Citi Stock Deep Dive: Earnings, Buffet factor support our BUY rating and $60 price target for $C
is not long on the job and looks to be instigating a culture shift within the bank. Commenting this year onthat we detailed above, she said "It's not a surprise that we've been outperformed and failed to meet the expectations of our investors.", according to SEC filings in Q1. The reasoning is likely tied to the serious underperformance that has plaguedBuffet
, but if we assume the buyback program resumes later this year or next year that gives some upside to current projections.Source: Refinitiv, FXStreet calculationsA continued reduction in the share count drives outperformance, both in terms of EPS and dividends per share, and increases our valuation. . Of note, we show below how the P/E ratio has been as high as 14 and averaged nearly 10 over the last ten years. Currently, it is depressed, which is perhaps why Warren Buffet stepped in.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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