Citi price target lowered to $78 from $81 at Daiwa

Daiwa lowered the firm’s price target on Citi to $78 from $81 and keeps a Buy rating on the shares. Net interest income for the U.S. major banks looks set to pick up after bottoming in Q2, the analyst tells investors in a research note. Daiwa maintains a Positive sector rating in view of healthy operating fundamentals. The outlook is premised on gradual rate cuts and a soft landing for the U.S. economy, it adds.