Citigroup, Wells Fargo gird for loan losses as oil price dives

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Go back to Citigroup, Wells Fargo gird for loan losses as oil price dives

Oppenheimer Cuts Price Target on Citigroup (C) to $66 - Reiterates Outperform

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

Compass Point Sees Potential Increase in Provision Expenses for Wells Fargo (WFC) - Cuts PT to $54

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

UBS Cuts Price Target on Citigroup (C) as Shares Underperform Following 4Q Earnings

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