Citigroup Earnings Outlook Least Sensitive To Rates

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    Citigroup start off the banking sectors Q2 earnings…



    Record highs as equity trading down – doesn’t say good things about the depth of this rally to ATH


    KBW upgraded Citigroup, Goldman Sachs, and Bank of America to ‘outperform’ from ‘market perform’

    “We are upgrading shares of Citigroup, Goldman Sachs, and Bank of America, as we believe these three stocks are best positioned to benefit from an extended economic cycle that has the prospects to grow further—in addition we reiterate our outperform rating for JPM which should see similar benefits as well. We are raising our price target for all Universal Banks and the main driver is higher returns near term as we have pushed out our expectations for when the next downturn will happen and that was positive for near-term return expectations and our price targets. Based on our new price targets, we project total returns of 20.5%, 21.0%, and 23.3% for GS, BAC, and C, respectively, and we believe Outperform ratings are appropriate.

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