Meredith Whitney Again Cuts Estimates For UBS (UBS), Merrill Lynch, (MER), and Citi (C)

Oppenheimer analyst Meredith Whitney renewed her assault on Wall Street today, slashing estimates at Merrill (MER), UBS (UBS), and Citi (C).

Merrill’s Q2 EPS estimate cut from $0.20 to -$4.21 on concerns over “headwinds of deleveraging and the next disruptive step of restructuring.”

Citigroup’s Q2 estimate goes from $0.21 to -$1.25, on “the fact that the company has seriously constrained earnings power, in addition to the writedowns seen in 2Q08.”

UBS Q2 estimate cut from $0.69 to -$2.03. The firm “faces a difficult task of navigating through its risk exposures from the investment bank and rebuilding its damaged wealth management franchise.”

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