Evercore ISI raised the firm’s price target on Citi (C) to $79 from $69 and keeps an In Line rating on the shares. Citi posted “a strong 4Q,” detailed “a viable revenue target range above where consensus is” and announced $20B for share repurchases, the analyst noted. Management also pulled their medium-term ROTCE target in from 11-12% to 10-11% and referred to it as a “waypoint,” not a destination, but the firm thinks “this is a realistic step that not only didn’t surprise investors given the delta to current returns, but didn’t bother investors a whole lot either,” the analyst added.
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