HSBC Forecasts Strong Price Appreciation for Citigroup (NYSE:C) Stock

Citigroup (NYSE:C) had its price objective increased by stock analysts at HSBC from $161.00 to $164.00 in a research note issued to investors on Monday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. HSBC’s price objective suggests a potential upside of 25.37% from the stock’s current price.

A number of other equities analysts also recently commented on C. Weiss Ratings upgraded shares of Citigroup from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 24th. Morgan Stanley lifted their target price on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Bank of America upped their target price on Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Evercore set a $143.00 price target on Citigroup in a research report on Monday, July 6th. Finally, Truist Financial decreased their price target on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Citigroup Stock Performance

Shares of C opened at $130.81 on Monday. The stock has a market capitalization of $223.11 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 0.59 and a beta of 1.12. Citigroup has a 12 month low of $93.66 and a 12 month high of $147.96. The firm has a fifty day simple moving average of $134.29 and a 200 day simple moving average of $130.30. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same period in the previous year, the business earned $1.96 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. Research analysts forecast that Citigroup will post 11.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Whipplewood Advisors LLC acquired a new stake in shares of Citigroup in the first quarter valued at approximately $25,000. Paladin Partners LLC bought a new stake in Citigroup in the 2nd quarter valued at $27,000. TD Capital Management LLC acquired a new stake in Citigroup during the 4th quarter valued at $28,000. IMG Wealth Management Inc. lifted its holdings in Citigroup by 197.6% during the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after purchasing an additional 162 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in Citigroup during the first quarter worth $29,000. Institutional investors own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Expanded Coinbase stablecoin partnership: Citi is deepening its relationship with Coinbase Global to provide institutional clients with virtual accounts, stablecoin acceptance, fiat conversion and regulated settlement capabilities. The initiative could create longer-term fee revenue and strengthen Citi’s position in digital payments. Citigroup Deepens Stablecoin Push With Expanded Coinbase Tie-Up
• Positive Sentiment: Multi-market instant payments launch: Citi became the first bank to go live with multiple markets on the Swift payments scheme. Through its Global Clearing network and WorldLink, clients can access instant-payment rails across currencies and markets using a single account structure, potentially improving transaction volumes and client retention. Citi Becomes First Bank to Launch Multi-Market Instant Payments on the Swift Payments Scheme
• Positive Sentiment: Favorable analyst view: HSBC raised its price target on Citi to $164 from $161 and retained a Buy rating, citing potential upside from the bank’s restructuring and earnings outlook. HSBC Adjusts Price Target on Citigroup
• Neutral Sentiment: Upcoming earnings focus: Analysts forecast third-quarter EPS of approximately $2.64 and revenue of $23.75 billion. The October 13 report is likely to be the next major catalyst, particularly for evidence that restructuring benefits are translating into sustainable profitability. Citigroup Likely To Report Higher Q3 Earnings
• Negative Sentiment: Near-term monetization concerns: Although the stablecoin and instant-payment announcements are strategically positive, investors may view them as longer-term growth initiatives without immediate material earnings contributions. That may be limiting enthusiasm and contributing to the stock’s weaker performance despite favorable analyst expectations.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.