Wolfe Research analyst Steven Chubak maintains $Citigroup (C.US)$ with a buy rating, and adjusts the target price from $71 to $83.
According to TipRanks data, the analyst has a success rate of 61.5% and a total average return of 15.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Citigroup (C.US)$'s main analysts recently are as follows:
For the banking sector, long-term trends up to 2025 appear to be firmly in place, with only modest adjustments made to earnings projections. Looking ahead to 2028, banks are anticipated to strive for maximal growth within the boundaries of achieving a low-to-mid-teens return on tangible common equity. There remains a prevalent skepticism regarding a potential easing of regulatory and capital burdens. The sector is considered reasonably priced, presenting several investment opportunities.
Citi is considered a top choice under various scenarios excluding a recession, with expectations that expenses will surpass predictions. Pivotally, returns are anticipated to inflect significantly for the stock, with potential growth in book value even during a recession. Additionally, recent management shifts are regarded as the most substantial in decades. Over a span of three years, significant improvements are expected in earnings per share, efficiency, and returns, projecting a robust enhancement relative to peers.
Equity markets experienced a roughly 2% decline in December during a period described as a post-post-election cooldown, largely due to new expectations about the delayed likelihood of rate cuts. Additionally, a continuation of subdued activity levels was observed in investment banking from November into December, following relatively strong performance in September and October. Despite the dip in December, a rebound is anticipated at the beginning of 2025, reflecting a general sentiment that improvement in investment banking is expected eventually.
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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