Citigroup Equity Trading Revenue Surged 38% Boosting Earnings

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    [b]RBC Issues Positive Note on Top U.S. Banks
    RBC rates Citigroup as Outperform and has an $85 price target for $C
    From The RBC Note

    The top 20 banks’ first quarter results reflected strong year-over-year earnings growth, robust capital positions, strong credit quality, the benefits of higher short term interest rates and lower tax rates and continued expense management.

    The expected upside in stock prices should be driven by growth in the industry’s core businesses, increased levels of capital returned to shareholders, and higher interest rates. We think potential appreciation ranges from 20% to 25% for some of the top 20 banks.


    Citigroup Inc. $C raised to Buy from Hold a Deutsche Bank.

    52-week range of $63.16 to $80.70 and closed trading on Tuesday at $66.78.

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