UPDATE: Guggenheim Securities Reiterates on Citigroup as Banks Paddling Hard Can Still Create Progress
In a report published Tuesday, Guggenheim Securities analyst Marty Mosby reiterated a Buy rating on Citigroup (NYSE: C), and raised the price target from $64.00 to $68.00.
In the report, Guggenheim Securities noted, “Until short-term interest rates are expected to rise soon or regulators loosen their grip on excess capital, we believe investors should begin to be more selectively focused on banks with the potential for earnings momentum and a relative discount in valuation.”
Citigroup closed on Monday at $52.62.
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