Morgan Stanley Forecasts Strong Price Appreciation for Citigroup (NYSE:C) Stock

Key Points

• Morgan Stanley has raised its target price for Citigroup (NYSE:C) from $129.00 to $134.00, indicating a potential upside of 34.23% from the stock's previous close, and maintains an "overweight" rating.
• Citigroup's recent earnings report revealed earnings per share (EPS) of $1.86, falling short of analysts' expectations, despite a year-over-year revenue increase of 9.3%.
• Currently, the average analyst rating for Citigroup is "Moderate Buy," with eleven analysts rating it as a Buy and seven as a Hold, leading to an average target price of $103.11.

Citigroup (NYSE:C - Get Free Report) had its target price lifted by investment analysts at Morgan Stanley from $129.00 to $134.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 34.23% from the stock's previous close.

Other analysts have also issued research reports about the stock. Dbs Bank lowered shares of Citigroup from a "moderate buy" rating to a "hold" rating in a research report on Monday, September 22nd. Piper Sandler set a $110.00 target price on Citigroup and gave the company an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group reiterated a "buy" rating and set a $118.00 price target on shares of Citigroup in a report on Tuesday. UBS Group restated a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $103.11.

Citigroup Stock Up 3.9%

C stock opened at $99.83 on Wednesday. Citigroup has a 12 month low of $55.51 and a 12 month high of $105.59. The company has a market cap of $183.78 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.84 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average of $97.25 and a two-hundred day moving average of $84.16.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company had revenue of $22.09 billion during the quarter, compared to analyst estimates of $20.92 billion. During the same period last year, the business earned $1.51 earnings per share. The firm's revenue was up 9.3% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts forecast that Citigroup will post 7.53 earnings per share for the current fiscal year.

Institutional Trading of Citigroup

A number of institutional investors have recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup during the first quarter worth about $28,000. Howard Hughes Medical Institute acquired a new position in Citigroup in the 2nd quarter valued at $34,000. Accent Capital Management LLC raised its position in Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after buying an additional 212 shares during the last quarter. DHJJ Financial Advisors Ltd. boosted its holdings in shares of Citigroup by 157.1% in the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company's stock valued at $35,000 after acquiring an additional 253 shares in the last quarter. Finally, Highline Wealth Partners LLC increased its stake in shares of Citigroup by 35.3% during the third quarter. Highline Wealth Partners LLC now owns 418 shares of the company's stock worth $42,000 after acquiring an additional 109 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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