Daiwa raised the firm’s price target on Citi to $68 from $63 and keeps a Buy rating on the shares. Earnings have been solid for the major banks and the investment banking market is recovering, the analyst tells investors in a research note. The firm says that while credit costs are rising, they are likely to peak soon. It has a Positive rating on the U.S. major banks with eye toward rate cuts. Assuming a “soft landing,” the shares look attractive, says Daiwa.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on C:
- Bank of America Stock (NYSE:BAC): Should you Buy Buffett’s Second-Largest Holding?
- Citi CEO says sticking to full-year expense guidance
- Fed to roll out proposals to prevent future financial meltdowns, NYT reports
- AMD (NASDAQ:AMD) Stock Crosses $300B Market Cap
- Citi hires JPMorgan’s Vis Raghavan to be head of banking, FT reports