Wells Fargo analyst Mike Mayo raised the firm’s price target on Citi (C) to $150 from $125 and keeps an Overweight rating on the shares. The firm sees Citi as dominant number 1 pick. Generational restructuring combined with generational deregulation should help to double returns to 14%, Wells adds. The firm further states that a major milestone expected in 2026, namely Citi inflecting from value destruction to value creation.
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