Citi price target raised to $144 from $132 at Oppenheimer

Oppenheimer raised the firm’s price target on Citi (C) to $144 from $132 and keeps an Outperform rating on the shares following quarterly results. The firm says the numbers looked clean and, if anything, were conservatively stated as they included about $500M or 22c per share of severance charges. Management had indicated that there would be some severance but hadn’t specified the amount. The first quarter is typically the seasonally strongest quarter of the year, but Oppenheimer is increasingly confident that Citi will hit the upper end of the target range.