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Citigroup’s Analyst Ratings Reflect Upside Potential

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Analysts’ ratings

So far in November 2017, 17 of the 29 analysts covering Citigroup (C) called for a “buy” or a “strong buy,” reflecting a continued upside in 2018 with a price target of $76.52. The target implied an upside of 7.7% from the current levels.

Ten analysts have called for a “hold,” and the remaining two were on the “sell” side. The ratings have improved marginally from 2Q17, with the number of “buy” ratings increasing by one.

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Who’s trailing?

Among other major bankers, Bank of America (BAC) is standing strong with 22 “buy” or “strong buy” ratings out of 30, reflecting a strong upside. Seven analysts have called for a “hold” and the remaining one analyst offered an”underperform” rating. The bank has seen a strong operating performance and improved valuations.

JPMorgan Chase (JPM) is commanding less than 50% of analysts on the “buy” side, for 13 out of 28 analysts. Thirteen analysts are calling for a “hold,” and two analysts called for “underperform” or “sell” ratings.

Wells Fargo (WFC) garnered the highest number of “underperform” ratings, with four of 31 analysts. Fifteen analysts gave WFC “hold” ratings, and 12 analysts gave it “buy” ratings.

Bankers (XLF) are seeing ratings shift more toward “hold” in recent months as credit offtake has slowed down. Also, trading activity has also been subdued, partially offset by higher rates.

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