Analysts are upbeat

Most of the analysts covering Citigroup (C) stock maintained a favorable outlook. Among the 29 analysts providing recommendations, 22 recommended a “buy,” six recommended a “hold,” and one recommended a “sell.” Analysts have a consensus target price of $78.16 per share, which implies an upside potential of 40.9% based on its closing price of $55.46 on January 8.

Citigroup is likely to benefit from higher loans and deposits and increased spreads. Lower expenses and a decline in the effective tax rate are expected to support the bank’s bottom-line growth.

Citigroup Stock: Analysts’ Recommendations

Analysts kept a “buy” rating on banking stocks

Most analysts have a positive outlook on banking stocks. Among the 30 analysts covering JPMorgan Chase (JPM) stock, 15 recommended a “buy,” 14 recommended a “hold,” and one recommended a “sell.” Analysts have a target price of $118.41 per share on JPMorgan Chase stock, which implies an upside of 17.4%.

For Wells Fargo (WFC), 18 analysts recommended a “buy,” nine recommended a “hold,” and four recommended a “sell.” Analysts have a consensus target price of $59.63 per share on Wells Fargo, which implies an upside of 25.4%.

For Bank of America (BAC), 20 analysts recommended a “buy,” while ten recommended a “hold.” Analysts have a consensus target price of $32.56 per share, which implies an upside of 27.6% based on the closing price of $25.51 on January 8.

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