Fly News Breaks for January 15, 2020
Jan 15, 2020 | 09:31 EDT
DA Davidson analyst David Konrad raised his price target on Citi to $100 and kept his Buy rating after its Q4 earnings beat driven by revenue upside coming from the FICC segment as well as by expenses remaining in a "tight range". The analyst points to some of the other upside factors for Citi in the quarter, which included treasury and trade solutions revenue growth of 2% in spite of 3 rate cuts, branded card revenue growth of 10%, and positive operating leverage. Konrad further notes that Citi's 2020 ROTCE guidance of 12%-13% should drive up the consensus view, which had been below 12% heading into the print.
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