BofA Securities analyst Ebrahim Poonawala maintains $Citigroup (C.US)$ with a buy rating, and adjusts the target price from $90 to $95.
According to TipRanks data, the analyst has a success rate of 67.2% and a total average return of 13.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Citigroup (C.US)$'s main analysts recently are as follows:
Despite a notable rise in stock value last year, there remains a high degree of investor skepticism regarding the ability of Citigroup's CEO to revitalize and sustain profitability. Nevertheless, it is believed that significant progress has been made and the right direction is being pursued.
Analysts observe that the estimated earnings per share for Q4 in the large cap bank group is slightly above consensus due to anticipated outperformance in capital markets, optimistic forecasts for 2025 pipelines, and benefits from a steeper yield curve which may elevate guidance for 2025. Among the large cap banks, a particular focus is on the positive outlook, highlighting substantial growth potential based on their operational strategy and future projections.
Despite the recent rise in value, large-cap banks are still poised to outdo market performance into 2025 due to the acceleration in earnings growth. Citi is anticipated to capitalize on these growth drivers. Following the achievement of its revenue and expense goals in 2024, continued enhancements are expected in 2025. The increase in valuation is foreseen as the bank progresses its return on tangible common equity from the current 7.2% towards its 11-12% medium-term target.
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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