Citi (C) PT Raised to $99 at Truist Securities

Truist Securities analyst John McDonald raised the price target on Citi (NYSE: C) to $99.00 (from $93.00) while maintaining a Buy rating.

The analyst commented: "Raising '25E and '26E EPS. We raise our 2025E EPS to $7.55 (+$0.35) and the revision is almost entirely driven by the 2Q overage to our prior estimate (+$0.34) as our 2H25 estimates are cumulatively flattish. We now model 2025 revenues modestly above updated guidance for ~$84b, with expenses about in-line with new guidance for $53.4b, and card NCOs towards the midpoints of the new outlook ranges on the branded and retail services portfolios. We also raise our share repurchase assumptions to $4b quarterly in 2H25. We increase our 2026E EPS to $9.70 (+$0.45) on similar drivers, including higher revenues than previously assumed, partially offset by higher expenses, with lower provision and higher share repurchases. We raise our PT to $99 (+$6) which equates to ~10.2x our '26E EPS of $9.70 and ~1.0x YE'25E TBV/ share vs. a 9.7% est. ROTCE in '26E."

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