Embattled banking giant Citigroup Inc. (C) on Tuesday caught some positive commentary from analysts at UBS.
The firm maintained its “Buy” rating on C and lifted its price target to $45, suggesting a massive 34% upside to the stock’s Monday closing price of $34. UBS also boosted its earnings estimates for the company, citing lower operating expenses and somewhat higher capital markets revenue.
Citigroup, which posted mixed first quarter earnings results on Monday, saw its shares rise 75 cents, or +2.2%, in early trading Tuesday.
The Bottom Line
Shares of Citigroup (C) have a .12% dividend yield, based on last night’s closing stock price of $34.00. The stock has technical support in the $30 price area. If the shares can firm up, we see overhead resistance around the $35-$38 price levels.
Citigroup Inc. (C) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.8 out of 5 stars.
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