Market Overview

UPDATE: ISI Group Raises PT on Citigroup on Raised EPS Estimates

Related C
Fast Money Picks For October 5
How To Trade Bank Earnings Season
Q3 Earnings Will Be Weak, And It's Not Just Energy (Investor's Business Daily)

In a report published Monday, ISI Group reiterated its Buy rating on Citigroup (NYSE: C), and raised its price target from $46.00 to $53.00.

ISI Group noted, “The good news is we've had a Buy rating on C for quite a while. However, upon further analysis, we now think our EPS estimates were simply too conservative. Thus, we're raising our 2013-15 estimates significantly based on 3 main factors. First, following CEO Mike Corbat's recent investor presentation and a more in-depth assessment of C's cost cutting opportunities, we're accelerating our operating efficiency improvement outlook. Second, based on the U.S. economic and housing recoveries, we're increasing the pace at which Citi Holdings ought to be able to recapture some of its $11bn loan loss reserve.”

Citigroup closed on Friday at $46.68.

Latest Ratings for C

Oct 2015OppenheimerMaintainsOutperform
Sep 2015Credit SuisseUpgradesNeutralOutperform
Sep 2015JefferiesUpgradesHoldBuy

View More Analyst Ratings for C
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Price Target Analyst Ratings


Related Articles (C)

View Comments and Join the Discussion!

Get Benzinga's Newsletters