Market Overview

Bank of America Merrill Lynch Reiterates Buy Rating, $46 PT for Citigroup

Share:
Related C
A Look Back At PayPal's Impressive Week
Washington News Overrides Q2 Big Bank Earnings Reports
Ferguson Wellman Capital Management, Inc Buys Citigroup Inc, Bank of New York Mellon Corp, ... (GuruFocus)

In a company update published earlier today, Bank of America Merrill Lynch reiterated its Buy rating and $46.00 price target for Citigroup Inc. (NYSE: C).

BofA Merrill Lynch went on to say “Citi is well-positioned to take advantage of the ongoing market recovery and normalizing credit, and continued investment in its Emerging Markets presence also enables C to benefit from strong growth in these areas. Despite considerable near-term headwinds, e.g. regulatory concerns, global macro worries, etc., the revenue growth we expect in Citicorp and rapid decline in Citi Holdings assets should drive significant long-term earnings power - such trends suggest an 6-7% ROE by '13 is achievable.”

Citigroup Inc. closed yesterday at $25.75.

Latest Ratings for C

DateFirmActionFromTo
Jul 2017Credit SuisseMaintainsOutperform
Jul 2017NomuraMaintainsBuy
Jul 2017HSBCInitiates Coverage OnHold

View More Analyst Ratings for C
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Reiteration Analyst Ratings

 

Related Articles (C)

View Comments and Join the Discussion!