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UPDATE: Nomura Initiates Coverage on Citigroup

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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
Jan 2021BerenbergDowngradesBuyHold
Jan 2021BarclaysDowngradesOverweightEqual-Weight
Nov 2020Morgan StanleyMaintainsOverweight

View More Analyst Ratings for C
View the Latest Analyst Ratings

 

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Posted-In: Nomura Steven ChubakAnalyst Color Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
TSLAJP MorganMaintains125.0
INTCTruist SecuritiesMaintains64.0
FBTruist SecuritiesMaintains320.0
GSCitigroupMaintains370.0
AAPLCowen & Co.Maintains153.0
View the Latest Analytics Ratings
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