Wells Fargo Starts Citi (C) at Market Perform, Sets $30-$32 Valuation Range

Analysts at Wells Fargo initiated coverage on shares of Citi (NYSE: C) with a Market Perform rating and a $30-$32 valuation range.

The firm notes "exposure to faster-growing lending markets across the globe..." is a positive, but is concerned with global growth moving forward. Wells Fargo believes "Citi shares remain subject to European sovereign concerns, which we do not believe will be resolved in the near term or without continue volatility."

While the firm believes Citi shares are currently attractive, it is also cautious amid near-term volatility.

For more ratings news on Citi click here and for the rating history of Citi click here.

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