Balanced Risk-Reward Keeps Citigroup at Hold Despite Upgraded Copper-Driven Outlook

In a report released yesterday, Alexander Hacking from Citi maintained a Hold rating on Citigroup, with a price target of C$76.00.

Alexander Hacking has given his Hold rating due to a combination of factors that balance improved fundamentals with valuation and deal-related uncertainties. He incorporates higher copper price assumptions into his model, which lifts earnings and cash flow projections for Citigroup, but these upgrades are not sufficient to justify a more bullish stance given the current share price and expected total return. In his view, consensus expectations for near‑term performance already capture much of the anticipated benefit, leaving only modest upside from current levels.

At the same time, Hacking sees an additional layer of risk and complexity stemming from regulatory and strategic considerations, particularly the need for approvals that could affect execution and timing of key initiatives. These factors introduce uncertainty around how quickly Citigroup can fully realize the potential upside embedded in his revised forecasts. As a result, he concludes that the risk‑reward profile is balanced rather than compelling, and therefore maintains a Hold recommendation instead of moving to a more positive rating.

In another report released today, TipRanks – Google also reiterated a Hold rating on the stock with a $123.00 price target.

C’s price has also changed moderately for the past six months – from $90.720 to $117.460, which is a 29.48% increase.