Citi price target raised to $118 from $112 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Citi (C) to $118 from $112 and keeps an Outperform rating on the shares. The 200 basis points of relative outperformance on Tuesday reflects the proximity to Citi’s 10%-11% ROTCE target for 2026 and overall a building confidence in the outlook, the analyst tells investors in a research note.