These Analysts Revise Their Forecasts On Citigroup Following Strong Q2 Results

Citigroup Inc C reported better-than-expected second-quarter financial results.

Citigroup reported a second-quarter FY23 net revenue decline of 1% year-over-year to $19.44 billion, beating the consensus of $19.27 billion. EPS was $1.33, above the consensus of $1.30.

Citigroup expects FY23 adjusted revenue of $78 billion - $79 billion vs. consensus $78.86 billion.

Citigroup shares fell 4.1% to close at $45.75 on Friday, and lost 0.4% in today’s pre-market trading session.

These analysts made changes to their price targets on Citigroup following earnings announcement.

• BMO Capital lowered the price target on Citigroup from $64 to $62. BMO Capital analyst James Fotheringham maintained the stock with an Outperform rating.
• Oppenheimer increased the price target on Citigroup from $84 to $88. Oppenheimer analyst Chris Kotowski maintained an Outperform rating.
• Credit Suisse analyst Susan Roth Katzke reiterated Citigroup with a Neutral and maintained a $50 price target.

Now Read This: Market Volatility Declines; S&P 500 Settles Lower But Posts Weekly Gain