Citi price target raised to $66 from $61 at BMO Capital

BMO Capital analyst James Fotheringham raised the firm’s price target on Citi to $66 from $61 and keeps an Outperform rating on the shares. The company reported a big broad-based Q3 earnings beat as its higher net interest income offsets lower fees and reiterated guidance, though that looks conservative following this quarter’s 20% beat in pre-provision net revenue, the analyst tells investors in a research note. Though Citi is the firm’s top pick among large-cap banks however, shares trade at the largest discount “by far” to the company’s Tangible Common Equity among the money-center banks, BMO added.