Goldman Sachs on Monday upgraded on Citigroup Inc C from Neutral to Buy, raising the price target from $57 to $61.
Citi’s shares were little changed in Monday’s session.
Analysts from Goldman Sachs see an alluring risk/reward situation given Citi’s current levels. They note the reasons for the upgrade:
- Citi can add to its first quarter results and even develop cleaner, continuous growing earnings.
- Citi predicts return on assets will increase by at least 90 basis points or higher by 2016.
- Accelerated wind-down of holdings.
- More aggressive capital payouts and capital deployment can help to offset the impact of deleveraging.
Citi’s stock price has increased nearly 14 percent over the past year.
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