BofA analyst Ebrahim Poonawala raised the firm’s price target on Citi to $58 from $56 and keeps a Buy rating on the shares after the bank’s Q1 results topped expectations. The firm’s FY23 and FY24 EPS estimates "rise modestly" following the beat and BofA adds that it sees potential for buybacks to resume at Citi following the release of the annual regulatory stress test in June, though it doesn’t assume share buybacks for FY23.
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