J.P. Morgan analyst Vivek Juneja has maintained their neutral stance on C stock, giving a Hold rating on September 30.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Vivek Juneja has given his Hold rating due to a combination of factors surrounding Citigroup’s strategic decisions and market conditions. One of the primary considerations is the ongoing sale process of Banamex, where Citigroup is navigating complex negotiations with potential buyers like Grupo Mexico and Fernando Chico Pardo. The valuation of Banamex is a critical factor, with offers being close in price, suggesting limited upside potential from a bidding war, which adds uncertainty to the sale’s outcome.
Additionally, political concerns and market reactions play a significant role in the Hold rating. The potential for negative stock market reactions to Grupo Mexico’s bid and the political landscape in Mexico, which favors local ownership, contribute to the cautious stance. These elements, combined with the strategic importance of Banamex and its impact on Citigroup’s capital release strategy, underscore the decision to maintain a Hold rating, reflecting a balanced view of risks and opportunities.
In another report released on September 30, Evercore ISI also maintained a Hold rating on the stock with a $87.00 price target.
Based on the recent corporate insider activity of 85 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.