Goldman Sachs Adds Citigroup (C) to its Conviction Buy List
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Price: $51.86 +0.50%
Rating Summary:
18 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
18 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade C Now!
Goldman Sachs added Citigroup (NYSE: C) to its Conviction Buy List with a price target of $49.00 (from $42.00).
The firm said the shares are mispriced given its earnings power, especially considering further restructuring could result in an 11% ROTCE over time.
They note shares traded at a discount to peers (7.6x 2014E EPS vs. 11x for peers), despite the fact it has considerably more levers to protect and grow earnings in a difficult revenue environment. They also note management is singularly focused on improving returns with the recent restructuring plan Citi announced in December the first in a multi step process.
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 $41.39 yesterday, with a 52 week range of $24.61-$116.09.
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The firm said the shares are mispriced given its earnings power, especially considering further restructuring could result in an 11% ROTCE over time.
They note shares traded at a discount to peers (7.6x 2014E EPS vs. 11x for peers), despite the fact it has considerably more levers to protect and grow earnings in a difficult revenue environment. They also note management is singularly focused on improving returns with the recent restructuring plan Citi announced in December the first in a multi step process.
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 $41.39 yesterday, with a 52 week range of $24.61-$116.09.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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