Citi price target raised to $97 from $86 at HSBC

HSBC raised the firm’s price target on Citi (C) to $97 from $86 and keeps a Buy rating on the shares. The analyst is more cautious on universal banks and brokers following the recent rally in the shares. HSBC recommends a more constructive stance on super-regionals. While operating fundamentals in the banks and broker group appear healthy, share valuations are “increasingly stretched,” the analyst tells investors in a research note.