Citigroup's (C) "Buy" Rating Reaffirmed at TD Cowen

Key Points

• TD Cowen reaffirmed its “Buy” rating on Citigroup and maintained a $150 price target, implying approximately 17.9% upside from the stock’s $127.21 opening price.
• Citigroup’s latest quarterly results exceeded expectations, with EPS of $3.15 versus the $2.74 consensus and revenue of $24.77 billion, up 14.5% year over year.
• Analyst sentiment remains broadly positive: Citigroup has a “Moderate Buy” consensus rating and an average price target of $151.28, though some firms recently trimmed their targets or retained neutral ratings.

Citigroup (NYSE:C - Get Free Report)'s stock had its "buy" rating restated by investment analysts at TD Cowen in a research note issued on Thursday, Benzinga reports. They currently have a $150.00 target price on the stock. TD Cowen's target price would suggest a potential upside of 17.92% from the stock's current price.

C has been the subject of several other reports. UBS Group dropped their target price on Citigroup from $142.00 to $139.00 and set a "neutral" rating for the company in a research report on Monday. Bank of America increased their price target on shares of Citigroup from $170.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Wells Fargo & Company raised their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Finally, Morgan Stanley increased their target price on shares of Citigroup from $154.00 to $164.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $151.28.

Citigroup Stock Down 1.0%

Citigroup stock opened at $127.21 on Thursday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50 day moving average price of $133.89 and a 200 day moving average price of $131.18. Citigroup has a fifty-two week low of $93.66 and a fifty-two week high of $147.96. The company has a market capitalization of $216.97 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.57 and a beta of 1.13.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.77 billion during the quarter, compared to analysts' expectations of $23.74 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. Research analysts expect that Citigroup will post 11.19 earnings per share for the current year.

Institutional Trading of Citigroup

A number of large investors have recently made changes to their positions in C. Cora Capital Advisors LLC grew its position in shares of Citigroup by 3.1% during the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company's stock valued at $296,000 after acquiring an additional 78 shares during the period. CFS Investment Advisory Services LLC increased its position in Citigroup by 0.4% in the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company's stock worth $2,336,000 after buying an additional 79 shares during the last quarter. American Trust raised its stake in Citigroup by 3.6% in the 2nd quarter. American Trust now owns 2,331 shares of the company's stock valued at $326,000 after acquiring an additional 80 shares during the period. Invst LLC raised its holdings in Citigroup by 0.8% during the 2nd quarter. Invst LLC now owns 9,601 shares of the company's stock valued at $1,344,000 after acquiring an additional 80 shares during the period. Finally, Tsfg LLC raised its holdings in Citigroup by 4.9% during the 2nd quarter. Tsfg LLC now owns 1,701 shares of the company's stock valued at $238,000 after acquiring an additional 80 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Valuation recovery potential: Barron’s argues Citigroup could gain roughly 28% if it rerates closer to peer-bank valuations, highlighting the stock’s relative discount and ongoing restructuring progress. Citigroup Has Trailed Financial Stocks. Expect That to Change.
• Positive Sentiment: Digital-payments expansion: Citigroup and Coinbase expanded their collaboration to connect Citi’s payment infrastructure with stablecoin rails, potentially broadening transaction, treasury-management and cross-border-payment opportunities. Citi Just Connected Its $6 Trillion Payment Network to Stablecoin Rails
• Positive Sentiment: Earnings expectations remain constructive: Analysts expect year-over-year earnings growth in Citigroup’s upcoming report, while the company’s latest quarter exceeded consensus estimates for both revenue and EPS. Citigroup Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Analyst targets remain above the market price but were trimmed: UBS lowered its target to $139 from $142 while maintaining a neutral rating, and Autonomous Research reduced its target to $146 from $147 while keeping an outperform rating. UBS Group Cuts Citigroup Price Target
• Negative Sentiment: Macro pressure on banks: Spiking Treasury yields can raise funding costs, reduce bond-portfolio values and increase concerns about credit losses, creating a headwind ahead of third-quarter bank earnings. Banks Under Pressure from Spiking Yields Ahead of Q3 Results

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi's principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.

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