Citi price target raised to $92 from $85 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Citi (C) to $92 from $85 and keeps an Outperform rating on the shares. The bank reported solid quarter with a revenue beat driven by net interest income, which included greater than expected trading results, the analyst tells investors in a research note. Keefe expects Citi’s buybacks to begin to accelerate with a potential further acceleration should Basel III Endgame “be meaningfully watered down.”