Nomura Securities Maintains a 'Buy' on Citi (C); Mexican Exposure Remains Attractive
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Price: $50.52 -0.02%
Rating Summary:
18 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
18 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade C Now!
Nomura Securities maintains a 'Buy' on Citi (NYSE: C) price target of $41.00.
Analyst, Glenn Schorr, said, "Citi’s Banamex has a strong second place market share in Mexico, an economy we think is set to grow and the banking sector particularly poised for growth. Our analysis suggests Banamex could be worth $15-$19 billion (perhaps more), which is in the range of 20% of Citi’s total market cap. We believe that the Mexican banking sector can sustain mid to high teen loan growth over the next 10 years as the banking sector heads towards regional averages in terms of size...We view Citi as having smaller mortgage tail risk, reasonable capital and differentiated growth prospects vs universal bank peers. We think the valuation gap could improve."
For an analyst ratings summary and ratings history on Citi click here. For more ratings news on Citi click here.
Shares of Citi closed at $28.82 yesterday, with a 52 week range of $21.40-$116.09.
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Analyst, Glenn Schorr, said, "Citi’s Banamex has a strong second place market share in Mexico, an economy we think is set to grow and the banking sector particularly poised for growth. Our analysis suggests Banamex could be worth $15-$19 billion (perhaps more), which is in the range of 20% of Citi’s total market cap. We believe that the Mexican banking sector can sustain mid to high teen loan growth over the next 10 years as the banking sector heads towards regional averages in terms of size...We view Citi as having smaller mortgage tail risk, reasonable capital and differentiated growth prospects vs universal bank peers. We think the valuation gap could improve."
For an analyst ratings summary and ratings history on Citi click here. For more ratings news on Citi click here.
Shares of Citi closed at $28.82 yesterday, with a 52 week range of $21.40-$116.09.
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