Citigroup’s Target Lowered at Sterne Agee, but Still a “Buy” (C)

Banking giant Citigroup Inc. (C) on Tuesday saw its price target cut by analysts at Sterne Agee.

The firm maintained its “Buy” rating on Citigroup but reduced its price target from $43 to $35. That new target suggests a 33% upside to the stock’s Monday closing price of $26.25.

Citigroup shares rose 74 cents, or +2.8%, in Tuesday morning trading.

The Bottom Line
Shares of Citigroup (C) have a .15% dividend yield, based on last night’s closing stock price of $26.25. The stock has technical support in the $23-$25 price area. If the shares can firm up, we see overhead resistance around the $30-$32 price levels.

Citigroup Inc. (C) is not recommended at this time, holding a DARS™ Rating of 2.8 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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