J.P. Morgan is out with its report today on Citigroup C, maintaining Overweight.
In a note to clients, J.P. Morgan writes, "We maintain Citigroup at Overweight longer term relative to our universe due to relatively attractive valuation with the shares trading below tangible book value, strong capital levels, sizeable amount of loan loss reserves, and potential for faster growth from emerging markets. Citi also has better revenue growth drivers led by its emerging markets business and should benefit from slowing, albeit still high, credit losses, and continued shrinkage of Citi Holdings."
At the time of posting, shares of C were trading pre-market at $38.20, down 0.47% from Friday's close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in