J.P. Morgan analyst Vivek Juneja has maintained their neutral stance on C stock, giving a Hold rating on July 2.
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Vivek Juneja has given his Hold rating due to a combination of factors affecting Citigroup’s performance. The bank has shown mixed results, with strong trading and investment banking revenues offset by weaker performance in its Wealth segment and mixed credit quality metrics. While Citigroup has made progress in improving profitability and growing revenues, challenges remain in achieving profitability levels comparable to its peers.
Additionally, Citigroup’s high share of credit card loans poses a risk in a potentially softening economy. Despite these challenges, the bank’s valuation remains attractive, and it has strong businesses such as Treasury services and FICC trading. The Hold rating reflects a balanced view of these positive and negative factors, with a price target set at a discount to peers due to lower profitability expectations.
In another report released on July 2, Evercore ISI also maintained a Hold rating on the stock with a $77.00 price target.