6
0
Citigroup Inc (NYSE: C) and other banking majors have lately been facing rising delinquencies in the commercial real estate sector.
The firm is capable of delivering cost reductions, and has “significant capacity” to either repurchase stock or expand its balance sheet, “especially if Basel 3 Endgame (B3E) rules change materially,” according to Goldman Sachs.
The Citigroup Analyst: Richard Ramsden upgraded the rating for Citigroup from Neutral to Buy, while keeping the price target unchanged at $68.
The Citigroup Thesis: Citi is likely to generate revenue growth at a CAGR (compounded annual growth rate) of 4% to reach $85.7 billion …
Full story available on Benzinga.com
Visited 6 times, 1 visit(s) today