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Investing.com - UBS has reiterated its Neutral rating and $100.00 price target on Citi (NYSE:C), a banking giant with a market capitalization of $179.9 billion, following the bank’s quarterly earnings report that exceeded analyst expectations. According to InvestingPro data, Citi has delivered an impressive 64% return over the past year.
Citi reported core earnings per share of $2.24, excluding a $726 million pre-tax goodwill impairment related to the 25% stake sale in Banamex. The bank’s pre-provision net revenue beat consensus estimates by 17%, driven by strong fee income and solid net interest income. Trading at a P/E ratio of 14.6 and offering a 2.4% dividend yield, Citi maintains its position as a prominent player in the banking sector.
Markets revenues reached $5.6 billion, surpassing consensus by 9%, with fixed income, currencies and commodities trading exceeding expectations by 7% and equities trading outperforming by 13%. Services revenues totaled $5.4 billion, while investment banking fees came in 8% better than expected, primarily due to debt capital markets strength.
Citi’s US Personal Banking unit generated revenues of $5.3 billion, 2% above analyst estimates, while Wealth Management contributed $2.2 billion. Core expenses of $13.6 billion aligned with UBS’s estimates.
The bank has revised its outlook upward, now expecting revenues to exceed its previous guidance of $84 billion and expenses to surpass its earlier projection of $56.4 billion. Citi also repurchased $5 billion worth of stock during the quarter, compared to consensus expectations of $4.1 billion. With revenue growth of 9.2% and six analysts revising earnings upward, detailed analysis of Citi’s potential is available through InvestingPro’s comprehensive research reports, which cover over 1,400 US stocks.
In other recent news, Citigroup Inc. reported its third-quarter 2025 earnings, surpassing analysts’ expectations with an adjusted earnings per share (EPS) of $2.24, compared to a forecast of $1.75. The company’s revenue also exceeded projections, reaching $22.09 billion against the expected $21.05 billion. Following this strong performance, several firms have adjusted their price targets for Citi. Piper Sandler raised its price target to $110 from $107, while maintaining an Overweight rating, despite slightly reducing its 2025 EPS estimate. TD Cowen also increased its price target to $110 from $105, noting the bank’s better-than-expected core earnings. Morgan Stanley set a new price target of $134, applying an 11x earnings multiple to its 2027 EPS estimate. BofA Securities raised its price target to $120 from $115, highlighting Citi’s 17% increase in core EPS compared to their estimates. These developments reflect a positive outlook on Citi’s financial performance and future prospects.
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