Diamond Member Pelican Press 0 Posted December 3 Diamond Member Share Posted December 3 This is the hidden content, please Sign In or Sign Up KBW upgrades Citi, says the bank trades at a big discount to peers Citi’s valuation relative to peers makes the stock too attractive to ignore, according to KBW. The firm upgraded Citi to outperform from market perform and raised its price target to $82 per share from $70. KBW’s forecast implies about 14% upside. Analyst David Konrad noted Citi trades at a 32% discount to 2026 expected earnings compared to other major Wall Street banks. He added that the stock also trades at 79% tangible book value — a 6% discount to its 10-year historical average. Shares have also lagged the group by 7.2 percentage points since earnings were released in October. C YTD mountain Citi stock. “Although Citi’s stock has been historically cheap, we believe near-term catalysts make the stock more attractive,” analyst David Konrad said. “First, Citi is well positioned with its franchise and recent management changes position the firm to capture revenue opportunities in investment banking and trading given expectations for improved market conditions following the election.” “Second, a potential decrease in regulations could ease some control and procedure risk for Citi but also provide meaningful capital relief,” the analyst added. Citi stock has advanced more than 38% in 2024. Most analysts are bullish on Citi shares, with 16 of the 22 covering it assigning a buy or strong buy rating, LSEG data shows. The average price target of $75.85 implies upside of more than 6%. This is the hidden content, please Sign In or Sign Up #KBW #upgrades #Citi #bank #trades #big #discount #peers This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up Link to comment https://hopzone.eu/forums/topic/180035-kbw-upgrades-citi-says-the-bank-trades-at-a-big-discount-to-peers/ Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now