Citi price target lowered to $78 from $85 at RBC Capital

RBC Capital analyst Gerard Cassidy lowered the firm’s price target on Citi (C) to $78 from $85 and keeps an Outperform rating on the shares after its Q1 results. The company delivered a better-than-expected quarter, beating RBC’s and consensus estimates, while the management also remained confident in their ability to achieve their medium-term financial target – ROTCE of 10%-11% in 2026 vs. 9.1% recorded in Q1, the analyst tells investors in a research note. RBC adds however that its reduced price target incorporates a lower non-interest income, partially offset by higher net interest income.