Citi gives its top picks for clients heading into the fourth quarter

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Citi gives its top picks for clients heading into the fourth quarter

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for credit losses when it reports its third-quarter results. If the

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improves, he expects investors will reward the company with a higher valuation. As it stands, Wall Street is pretty split on the name, with 10 of the 21 analysts covering Ally having a strong buy or buy rating. Eight analysts have a neutral rating, while three rated Ally as underperform. Meanwhile, Citi has a buy rating on the stock, and its price target of $50 implies nearly 45% upside from Wednesday’s close. This year, shares of Ally are marginally lower, down around 2%. Citi also named ******* Airlines as one of its top picks, saying any details about lower capital expenditures, a potential share repurchase or an uptick in card revenue could drive shares higher. The firm expects the domestic airline industry to see an uptick in unit revenue growth in the third quarter, with ******* benefiting from increased wallet share compared with pre-pandemic levels. Its target of $90 implies more than 61% upside, as of Wednesday’s close, and shares are already up around 35% in 2024. “Moreover, reduced capacity growth from competing discount airlines, along with consolidation among other carriers, helps create a more rational environment on which ******* and others can grow earnings,” analyst Stephen Trent wrote. UAL YTD mountain UAL, year to date Citi’s top pick in beverages, Coca-Cola , made the list. Analyst Filippo Falorni said the company has a “stronger” organic sales growth profile and he anticipates both third- and fourth-quarter earnings this year to come in higher than its peers. The bank’s target of $85 implies more than 19% upside from Wednesday’s close. The stock is up more than 20% year to date.

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