Morgan Stanley Reiterates Buy Rating on Citigroup
Morgan Stanley maintains a buy rating on Citigroup with a $164 price target, a 17.18% upside from the current price.
Key Points
- Morgan Stanley reiterated its buy rating on Citigroup (C) with a $164 price target on June 29, 2026.
- Morgan Stanley's $164 price target implies 17.18% upside from Citigroup Inc.'s ($C) current $139.96 share price.
- Citigroup shares traded near $141.76 on Monday, with a market cap of $241.8 billion and a P/E ratio of 17.5.
- Insiders have been selling shares recently, while major funds like BlackRock and State Street have reduced their holdings.
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Morgan Stanley analyst Betsy Graseck reiterated her buy rating on Citigroup Inc. (NYSE: C) on June 29, 2026, maintaining a price target of $164. Shares of Citigroup traded near $141.76 on Monday, reflecting the latest market sentiment.
Morgan Stanley vs. the S&P 500
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Other Institutional Activity in Citigroup
BlackRock, Inc. reduced its stake in Citigroup by 7,858,226 shares, leaving it with 153,780,316 shares valued at about $17.44 billion, a 4.9% decrease. Vanguard Capital Management LLC opened a new position, acquiring 109,658,356 shares worth approximately $12.44 billion. State Street Corp trimmed its holdings by 1,871,853 shares to 78,042,648 shares, valued at $8.85 billion, a 2.3% decrease. Geode Capital Management, LLC also reduced its position by 939,590 shares, ending with 42,312,782 shares worth around $4.79 billion, a 2.2% decrease. Capital World Investors cut its holdings by 5,991,234 shares, now holding 40,720,859 shares valued at $4.62 billion, a 12.8% decrease. Meanwhile, Franklin Resources Inc increased its stake by 4,774,532 shares to 38,971,315 shares, valued at $4.42 billion, a 14.0% increase.
Citigroup Inc. Stock Up 5.3%
Shares of Citigroup Inc. (NYSE: C) traded near $141.76 on Monday. The company has a market cap of approximately $241.8 billion, with a P/E ratio of 17.5 and a forward P/E of 11.3. Citigroup's beta is 1.115, indicating moderate volatility compared to the market. The stock's 52-week range is between $84.61 and $147.96, with a 50-day moving average of $131.26 and a 200-day moving average of $114.51.
$C price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Citigroup reported revenue of $78.73 billion, with a revenue growth of 15.9%. The company achieved a net margin of 20.4% and a return on equity of 7.6%. Earnings per share stood at $8.09. The next earnings report is expected on July 14, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
10 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 13.3%. Revenue beat estimates by 83.8%.
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Profit surprise
Operating income missed by 20 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
10 target raises.
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Earnings quality
Gross margin up 3.5 points. Operating margin up 3.8 points. Positive free cash flow.
Earnings Call Summary
Citigroup reported strong first quarter results with 14 percent revenue growth, reaching $44.1 billion, and earnings per share of $3.06 well above the $2.64 consensus. Services business revenues jumped 17 percent and Markets surpassed $7 billion in quarterly revenues for the first time in ten years, with equities up nearly 40 percent. Management stressed the bank is only pursuing organic growth and has no interest in acquisitions, and said 90 percent of their regulatory transformation work is now complete or near completion.
Guidance Management reaffirmed their target of 10 to 11 percent return on equity for the full year 2026. They expect net interest income to grow 5 to 6 percent, and said they will share more detail on capital plans and buybacks at an investor meeting in May.
Solid report. Results were generally better than expected, but the forward outlook did not materially change.
Dividend
Citigroup pays an annual dividend rate of $2.40 per share, yielding 1.69%. The dividend payout ratio is 29.17%, providing a steady income stream for investors.
Insider Buying and Selling at Citigroup Inc.
Recent insider activity includes several sales: John Cunningham Dugan sold 2,117 shares on May 8, 2026, at an average price of $125.30. David Livingstone, Chief Client Officer, sold 85,180 shares on April 20, 2026, at $132.18 each. Nicole Giles, Chief Accounting Officer, sold 12,732 shares at $131.80 on April 15, 2026. Edward Skyler, Head of Enterprise Services & Public Affairs, sold 25,000 shares at $131.41 on the same day. On the buy side, Grace Dailey and Gary Reiner purchased 7 and 405 shares, respectively, at $110.99 on April 1, 2026.
Analysts Set New Price Targets
On June 29, 2026, Morgan Stanley maintained its buy rating on Citigroup with a $164 price target. Truist Securities also maintained a buy rating with a $158 target on June 26, 2026. Wells Fargo reiterated its buy rating, setting a target of $165 on June 18, 2026. The consensus among 21 analysts is a buy rating, with a mean target price of $148.55.
About Citigroup
Citigroup Inc. is a major financial services company based in New York City. It offers a wide range of financial products and services to consumers, corporations, governments, and institutions worldwide. The company operates through various segments, including Services, Markets, Banking, U.S. Personal Banking, and Wealth. Citigroup has a global presence, with operations across North America, Europe, Asia, and other regions. The company is led by CEO Ms. Jane Nind Fraser and employs approximately 224,000 people.
Bottom Line
Morgan Stanley's reiteration of its buy rating on Citigroup underscores confidence in the company's financial prospects. Citigroup's diverse operations and global reach make it a key player in the financial services sector. Investors will be watching the upcoming earnings report for further insights into its performance.
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