Market Overview

UPDATE: Nomura Initiates Coverage on Citigroup

Share:
Related C
10 Notable Stocks Trading Ex-Dividend Thursday, July 28
Dispelling The Myths: Donald Trump And Bankruptcy
Dr. Michael Burry of 'The Big Short' Portfolio Review Shows Several Large Gains (GuruFocus)

In a report published Thursday, Nomura analyst Steven Chubak initiated coverage on Citigroup (NYSE: C) at Buy, with a $70.00 price target.

According to the report, analysts see unparalleled ROE potential at C under the new capital rules, as Citicorp efficiency targets are realized by 2015E and Citi Holdings turns profitable.

“We also see significant excess capital generation / best-in-class payout potential as the drag from Holdings moderates and DTA utilization accelerates,” the report said.

Some highlights from the report included:

-$70 TP implies +30% potential upside for the shares. -FY13E EPS at $4.6. -FY14E EPS at $5.05.

C closed Wednesday at $55.17.

Latest Ratings for C

DateFirmActionFromTo
Jul 2016BerenbergInitiates Coverage onBuy
Jul 2016Wells FargoDowngradesOutperformMarket Perform
Apr 2016Keefe Bruyette & WoodsDowngradesOutperformMarket Perform

View More Analyst Ratings for C
View the Latest Analyst Ratings

Posted-In: Nomura Steven ChubakAnalyst Color Initiation Analyst Ratings

 

Related Articles (C)

View Comments and Join the Discussion!