Wells Fargo Thinks Citigroup’s Stock is Going to Recover

Wells Fargo analyst Mike Mayo maintained a Buy rating on Citigroup (CResearch Report) yesterday and set a price target of $70.00. The company’s shares closed last Wednesday at $54.97, close to its 52-week low of $53.83.

According to, Mayo is a 4-star analyst with an average return of 11.5% and a 63.4% success rate. Mayo covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Fifth Third Bancorp, and Bank of America.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Citigroup with a $73.28 average price target, representing a 30.8% upside. In a report issued on March 28, RBC Capital also maintained a Buy rating on the stock with a $73.00 price target.

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The company has a one-year high of $80.29 and a one-year low of $53.83. Currently, Citigroup has an average volume of 27.49M.

Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of C in relation to earlier this year.

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Founded in 1812, New York-based Citigroup, Inc. is a financial services holding company, which provides financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate/Other.

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