Another Misunderstood Spin-Off, page-75

Another research note out of Citi reveals that its analysts have reiterated their sell rating on Clydesdale and Yorkshire Bank with a $4.26 price target. Its analysts appear to believe competitive pressures and low interest rates are going to weigh on net interest margins.
Although it looks reasonably cheap on paper and commentators have been impressed with the bank’s new digital banking platform, ANZ and WBC may represent better options for investors in the sector. Especially considering the full ramifications of the Brexit may not be felt for some time to come.