Financial services company Citigroup Inc. (C, Financial) has recently undergone a revision in its stock forecast from RBC Capital. Analyst Gerard Cassidy has adjusted the price target to $78, down from an earlier projection of $85, while maintaining an Outperform rating for the stock. This change comes in the wake of Citi's first-quarter performance which surpassed both RBC's and the broader market expectations.
Despite the downward adjustment in price target, RBC underscores that Citigroup's management remains optimistic about their capacity to reach medium-term financial goals. Specifically, they are aiming for a Return on Tangible Common Equity (ROTCE) of 10% to 11% by 2026, compared to the 9.1% reported in the latest quarter.
The revised price target reflects a complex balance of factors, including a reduction in projections for non-interest income, partially offset by anticipated increases in net interest income. This nuanced outlook underlines the dynamic factors influencing Citi's financial positioning in the coming periods.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Citigroup Inc (C, Financial) is $86.46 with a high estimate of $110.00 and a low estimate of $70.00. The average target implies an upside of 34.39% from the current price of $64.33. More detailed estimate data can be found on the Citigroup Inc (C) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, Citigroup Inc's (C, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Citigroup Inc (C, Financial) in one year is $61.58, suggesting a downside of 4.27% from the current price of $64.33. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Citigroup Inc (C) Summary page.
