From Nasdaq, Inc.:

Commercial bank stocks such a Citigroup (C) underperformed amid rising interest rates in 2023, despite a 16% rise in the last six months. Wolfe Research now lists it as a top pick, citing risk-reward potential and severe undervaluation.

Analysts expect New York-based Citigroup to earn 97 cents per share on revenue of $18.88 billion in the December-ended quarter, implying a 16% year-over-year decline in earnings but a 5% rise in revenue.

Citigroup beats Wall Street expectations with a solid 9% increase in third-quarter revenue to $20.14 billion. Although Q4 may not be strong, analysts still anticipate a possible strong stock performance in 2024, coupled with a solid 3.83% dividend yield.



Read more: Citigroup (C) Q4 2023 Earnings: What to Expect