TD Cowen raised the firm’s price target on Citi (C) to $110 from $105 and keeps a Hold rating on the shares. The firm noted they posted a core EPS beat in 3Q25 on a stronger than expected top-line, while revising its FY25 outlook higher. Of particular note were the banking and markets segments, which drove the bulk of 3Q fee growth. Citi provided greater color on its ambitions in the real-time payments after walking through a slate of enhancements to Citi Token Services, but this is an area where Cowen remains skeptical.
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