Goldman Sachs and KBW analysts have reaffirmed their positive ratings on Citigroup Inc. (NYSE:C) after evaluating the bank's long-term investment potential, according to Detik Finance.
On May 9, Richard Ramsden from Goldman Sachs maintained a Buy rating with a price target of $149.
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The analyst cited a clearer path to improved profitability and a stronger return on tangible equity over the next few years.
Management targets a higher ROTCE by 2028 and 2030, driven by mid-single-digit revenue growth and efficiency ratios approaching the mid-50s.
Wealth and Markets Segments Expected to Outperform
Ramsden also projected that the Wealth and Markets segments will grow faster than previous Wall Street estimates.
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This growth is expected to offset more conservative projections within the Services and Banking sectors.
Separately, a KBW analyst reiterated an Outperform rating on the stock with a price target of $140 on May 1.
The firm expressed optimism regarding the strategic plans and initiatives highlighted during Citigroup's investor day event.
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About Citigroup
Citigroup Inc. operates as a global financial services corporation.
The company delivers various financial products through its specialized segments, which include Services, Markets, Banking, Wealth, and U.
S. Personal Banking.
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The positive ratings reflect confidence in Citigroup's ability to enhance shareholder value through disciplined execution and strategic focus.
