J.P. Morgan analyst Vivek Juneja maintains $Citigroup (C.US)$ with a hold rating, and maintains the target price at $71.5.
According to TipRanks data, the analyst has a success rate of 53.8% and a total average return of 8.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Citigroup (C.US)$'s main analysts recently are as follows:
Despite surpassing both the firm's and consensus earnings per share estimates for Q3, the shares experienced a decline. This downturn intensified during the earnings call due to initial uncertainties expressed by management concerning the potential imposition of a regulatory asset cap. Although the CEO later clarified the absence of an asset cap, the prevailing negative sentiment was sufficient to trigger some profit-taking, especially as the stock was trading close to its year-to-date peak prior to the earnings announcement.
Despite a notable EPS outperformance, driven by robust capital markets and reduced costs, the company's shares experienced a decline. This can be partly associated with the projection of a quarter-over-quarter increase in expenses for Q4, which could extend into 2025. Following a recent financial report, there has been an adjustment in EPS projections for 2025, reflecting expectations for increased expenses and a decrease in net interest income, albeit mitigated by an anticipated rise in fee income.
The company's Q3 earnings surpassed estimates, bolstered by fee income, with trading and investment banking fees outperforming guidance provided earlier in the quarter.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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