Citi price target raised to $70 from $61 at HSBC

HSBC raised the firm’s price target on Citi to $70 from $61 and keeps a Buy rating on the shares. After underperforming year-to-date, HSBC is incrementally positive on super regional banks. Citi (C) remains the firm’s preferred choice among banks, however. HSBC continues to expect the banks to show improved net interest income in 2H24, generate operating leverage in 2025, and increase share buybacks in 2025 and beyond.