UPDATE: Nomura Initiates Coverage on Citigroup
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
Date | Firm | Action | From | To |
---|---|---|---|---|
Jan 2021 | Berenberg | Downgrades | Buy | Hold |
Jan 2021 | Barclays | Downgrades | Overweight | Equal-Weight |
Nov 2020 | Morgan Stanley | Maintains | Overweight |
View More Analyst Ratings for C
View the Latest Analyst Ratings
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