Citi price target raised to $53 from $47 at Piper Sandler

Piper Sandler raised the firm’s price target on Citi to $53 from $47 and keeps a Neutral rating on the shares. The analyst increased estimates to reflect the company’s Q1 outperformance. The quarter represents a "really good start to the year," meaning the company’s fiscal 2023 guidance "begins to look conservative," which is a plus for the stock, the analyst tells investors in a research note.