JPMorgan Chase & Co. Increases Citigroup Price Target to $54.00 (C)
Equities researchers at JPMorgan Chase & Co. boosted their price objective on shares of Citigroup (NYSE:C) from $51.00 to $54.00 in a research report issued on Wednesday, ARN reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 3.43% from the stock’s previous close.
Shares of Citigroup (NYSE:C) traded up 1.97% during mid-day trading on Wednesday, hitting $52.21. The stock had a trading volume of 31,919,520 shares. Citigroup has a 1-year low of $31.88 and a 1-year high of $53.56. The stock has a 50-day moving average of $50.53 and a 200-day moving average of $48.78. The company has a market cap of $158.8 billion and a P/E ratio of 16.45.
Citigroup (NYSE:C) last released its earnings data on Monday, July 15th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.07. The company had revenue of $20.50 billion for the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts predict that Citigroup will post $4.89 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on C. Analysts at Goldman Sachs Group Inc. cut their price target on shares of Citigroup (NYSE:C) from $62.00 to $58.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at HSBC raised their price target on shares of Citigroup (NYSE:C) from $36.00 to $48.00 in a research note to investors on Friday, September 13th. They now have an “underweight” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Citigroup (NYSE:C) in a research note to investors on Wednesday, September 4th.
One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Citigroup currently has a consensus rating of “Buy” and a consensus price target of $56.47.
Citigroup Inc (NYSE:C) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.
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