Citigroup, Inc. (C: sentiment, chart, options) was caught in the crosshairs of bearish analysts at Fox-Pitt today. The brokerage firm widened its fourth-quarter loss estimate from 97 cents per share to $1.56 per share, in order to reflect expected loan loss reserves for LyondellBasell and credit trading losses. The firm added that it expects Citi to swallow a fiscal 2009 loss of 31 cents per share, but maintained its "in-line" rating and $14 price target on the Dow component.

In other Citigroup news, the bank has reportedly frozen 30 operational accounts of Satyam Computer (SAY) in order to protect its $70 million exposure to the firm. SAY's former Chairman, B. Ramalinga Raju, admitted earlier this week to falsely inflating his company's balance sheet.

In early trading, C is off more than 3%. The equity is trading just shy of resistance from its 10-week moving average, which has guided C lower since February 2007.