Dark pool activity was detected in C stock on January 13, 2020.
We are unable to determine if the dark pool orders were buys, sells, or both. Citigroup will be reporting tomorrow, January 14, 2020, before market trading begins.
On January 9, 2020, BofA analyst Erika Najarian raised her price target for Citi to $92 from $85 and named the stock as her Pick for the Decade. In a research note to investors, Najarian says she thinks the sweeping management changes the bank has recently made, particularly in its U.S. consumer franchise, combined with continued efficiency initiatives, will drive consistent ROTCE improvement and, in turn, curing the stock’s chronic valuation discount. She sees the 2020s as a decade of transformation for Citi.
Also on January 9, 2020, Buckingham analyst James Mitchell told investors in a research note that he would emphasize the brokerage stocks over the banks this year, as not only are they less expensive, but that expectations around growth embedded in consensus are quiet modest. The analyst upgraded Goldman Sachs (GS) and downgraded Northern Trust (NTRS), and said Citi (C) remains a top pick for the second year in a row. He also emphasized Morgan Stanley (MS) and Regions Financial (RF) as the cheapest brokers relative to historical multiples in his coverage universe. The analyst raised his price target for Bank of America (BAC) to $40 from $35, for BNY Mellon (BK) to $56 from $50, for Citi to $100 from $86, for JPMorgan (JPM) to $140 from $122, for Morgan Stanley to $65 from $55, for State Street (STT) to $95 from $84, for Regions Financial to $110 from $108 and for Wells Fargo to $55 from $47.
On January 8, 2020, DA Davidson analyst David Konrad maintained a Buy rating and $96 price target on Citigroup, saying in a research note titled “More Room to Run” that the company, which already rose 49% in 2019, still has attractive valuation due to improved earnings visibility, stable expenses, and moderate top-line growth.