Citi price target raised to $80 from $70 at Wells Fargo

Wells Fargo analyst Mike Mayo raised the firm’s price target on Citi to $80 from $70 and keeps an Overweight rating on the shares. The bank’s organization simplification, which took seven months to complete, should provide more evidence that Citi can meet its targets, the analyst tells investors in a research note. The firm believes Citi’s exits, which are 70% done, “should lead to a simpler structure.” Wells sees Citi achieving 10% return on tangible equity in 2026 as well as stock upside.