BUZZ-Street View: Citigroup on track to meet medium-term return target

Reuters04-15

** Citigroup's first-quarter profit fell 27% as the bank took charges related to its reorganization, although it beat expectations as revenue grew in key divisions

** The median PT of 25 brokerages is $65.5

FIRM-FOOTING FOR THE REST OF THE YEAR

** Piper Sandler ("overweight," PT: $70) says revenue improvement will not be easy but a stronger-than-expected Q1 puts co on a firmer footing than earlier

** RBC Capital Markets ("outperform," PT: $63) says co's restructuring remains on track as it tries to reach its medium-term goal of 11-12% return on tangible common equity

** Evercore ISI ("in line," PT: $60) says co has made progress on the expense side and is on the path to hit its revenue targets and medium-term return targets

** Morningstar (fair value: $68) says this year is likely to be a transition year for the bank

** Adds that co's continued exit from international consumer businesses and separation of Mexico business should result in "significant" expense savings

(Reporting by Priyadarshini Basu in Bengaluru)

((priyadarshini.basu@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment