Did Citigroup's Latest Earnings Change the Investment Case?
The second quarter proved to be a strong one for big banks, which were fueled by a surge in investment banking and mergers and acquisitions, institutional trading, and rising asset levels. But one big bank failed to impress investors despite reporting solid results in Q2: (NYSE: C).
Citigroup stock has tumbled some 7% since the bank reported earnings on July 14. It's surprising given how Citigroup performed, crushing estimates by a wider margin than many of its competitors. But the investment case may have turned negative for many investors on the tepid outlook.
But is this a knee-jerk reaction or a longer-term concern?
Source Fool.com
Citigroup Inc. Stock
€113.82
-3.780%
The stock is an absolute favorite of our community with 41 Buy predictions and no Sell predictions.
With a target price of 117 € there is a slightly positive potential of 2.79% for Citigroup Inc. compared to the current price of 113.82 €.
