UBS downgraded financial giant Citigroup (C) from Buy to Neutral on Wednesday, citing a valuation call. Analysts issued a price target of $36 per share, Citigroup closed Tuesday at $34.18.
UBS also downgraded Goldman Sachs to Neutral, suggesting analysts there are becoming more cautious on the outlook for the financial sector.
Shares of Citigroup (C) are up 30% YTD.
The Bottom Line
Shares of Citigroup (C) have a .12% dividend yield, based on last night’s closing stock price of $34.18. The stock has technical support in the $29-$30 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.
Citigroup (C) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.