Citi named top large cap bank pick at Morgan Stanley

Morgan Stanley notes that the firm’s Q4 EPS estimate is median 2% above consensus for the large cap bank group as the firm expects capital markets beats in the quarter, positive commentary on 2025 pipelines and the benefit of a steeper curve to drive up 2025 guidance. The firm, which also notes that its 2025 EPS median estimate for the group is 4% above the Street view, identifies Citi (C) as it most preferred stock into earnings and top pick among large cap banks with 43% upside to the firm’s $104 price target Morgan Stanley keeps an Overweight rating on Citi shares.