Lower legal bill boosts Citi profit but core revenue weak
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January 19, 2016 10:28 AM EST
Oppenheimer maintained an Outperform rating on Citi (NYSE: C), and cut the price target to $66.00 (from $73.00), after analyzing the company's full year results. Oppenheimer noted that one year ago, the full-year 2015 consensus estimate for Citi was $5.37 and that today, it reported full-year 2015 EPS of $5.40.... More
January 19, 2016 8:04 AM EST
Compass Point maintained a Neutral rating on Wells Fargo (NYSE: WFC), and cut the price target to $54.00 (from $55.00), following the company's 4Q earnings. WFC reported EPS of $1.03, which was above the consensus estimate of $1.02. The price target reduction comes as Compass Point increases it's outlook for provision expense. WFC saw an uptick in credit related costs due to an increase in oil & gas related charge-offs during 4Q, while management warned of the potential... More
January 19, 2016 7:47 AM EST
UBS reiterated a Buy rating on Citi (NYSE: C), and cut the price target to $50.00 (from $62.00), as shares underperform following 4Q earnings. UBS believes that the markets are concerned about Citi's energy and EM exposures following higher credit costs in 4Q. The company's guidance for credit costs in ICG is for roughly $600 million in 1H16 if oil... More
