Wells Fargo analysts predict Citigroup's stock to double in three years due to improved management

From Investing.com: 2025-01-03 19:06:58

Citigroup’s stock could double in value over the next three years, according to Wells Fargo analysts, as profits surge and expenses moderate. Citi’s shares rose 1.6% to $71.09 after the raised price target of $110. CEO Jane Fraser’s overhaul in 2024 has been praised for improving management accountability.

Analysts see 2024 as a transitional year for Citi, with a reshuffle that will increase efficiency. KBW analysts also raised their price target to $85, citing increased capital markets activity and a discounted valuation compared to peers. Citi trades at a price-to-book ratio of 0.69, indicating an undervalued stock.

The bank is set to report results in mid-January, with focus on executive commentary regarding key businesses in 2025. Wells Fargo’s Mike Mayo believes Citi is transitioning from value destruction to value creation, presenting a great opportunity for stock price outperformance.



Read more at Investing.com: Wells Fargo says ‘dominant pick’ Citi’s stock could double in three years By Reuters