(News Bulletin 247) – Jefferies maintains its Hold opinion and its target price of $45 on Citigroup stock.
For the broker, ‘Citi and other major banks are in a relatively strong position today. ‘
‘While Citi is mindful of the more uncertain operating environment and current volatility, the bank’s overall strategic plan is intact, including its exit strategy, growth priorities and cost reduction plans,’ said Citi. the analyst for whom Citi remains ‘committed to its objective of achieving a ROTCE of 11% to 12% in the medium term’.
For Jefferies, Citi will need ‘significant cost reductions to achieve this goal’.
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