Citi price target raised to $60 from $52 at BofA

BofA analyst Ebrahim Poonawala raised the firm’s price target on Citi to $60 from $52 and keeps a Buy rating on the shares. Management has done a commendable job over the last twelve months navigating a period of extraordinary volatility while building capital, executing on consumer business exits and mostly staying on track with regards to executing on its strategic plan laid out at the investor day last February, Poonawala tells investors in a research note. The analyst sees potential catalysts, including the sale of its Mexico retail bank Banamex and an event-free 2023 CCAR stress test, that could reinvigorate interest in the stock.