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Deutsche Bank Issues Citigroup Alert

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Deutsche Bank Issues Citigroup Alert
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Analysts at Deutsche Bank issued an alert that Citigroup Inc (NYSE: C) may take a $2 billion-plus hit to its book value as a result of the U.S. dollar strength. However, the analysts said that it will not materially impact net income, EPS or Citi's capital. Therefore, Deutsche reiterated its Buy rating and $56 price target on the stock, which closed at $52.43 on Friday.

In 2014, the strong dollar impacted Citi's book value by $3.8 billion, with half of that impact coming in the fourth quarter, according to the Deutsche note. Net income fell a more modest $400 million pre tax, while capital requirements under Basel 3 Tier 1 were negligible.

Year-to-date, Citigroup has declined 3.1 percent. Over the past 52 weeks, Citi gained nearly 15 percent.

Latest Ratings for C

DateFirmActionFromTo
Oct 2017Societe GeneraleDowngradesHoldSell
Oct 2017NomuraMaintainsBuy
Oct 2017Morgan StanleyMaintainsOverweight

View More Analyst Ratings for C
View the Latest Analyst Ratings

Posted-In: Citigroup Deutsche BankAnalyst Color Analyst Ratings Best of Benzinga

 

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