5 Best Depressed Stocks to Buy Now

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In this article, we shall discuss the 5 best depressed stocks to buy now. To read our detailed analysis of the global economic outlook in 2022, go directly and see 12 Best Depressed Stocks To Buy Now.

5. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holdings: 82

YTD Decline (As of November 9): 23.23%

Based in New York, Citigroup Inc. (NYSE:C) is an American multinational investment bank and financial services corporation and is the third largest banking institution in the United States. According to the company’s Q3 2022 returns, Citigroup Inc. (NYSE:C) beat EPS estimates of $1.42 by $0.21, posting earnings of $1.63 per share. Furthermore, the company reported a net income of $3.5 billion on revenues of $18.5 billion in Q3 2022.

On October 27, BMO Capital analyst James Fotheringham lowered the price target on Citigroup Inc. (NYSE:C) to $71 from $76, keeping an Overweight rating on the shares. According to the analyst, although the company’s Q3 2022 returns were mixed, there were some notably slid performances across the Services, Branded Cards, and Retail Services segments of the corporation. Furthermore, Fotheringham asserts that the current resumption of share repurchases by the end of Q3 2022 and the company’s positive dividend payout history, with an annual dividend yield of 4.06% and a quarterly dividend rate of $0.51 per share, serve as catalysts for long-term growth and profitability. At its current discounted valuation, Citigroup Inc. (NYSE:C) provides an ideal entry-point for the long-term investor.

Follow Citigroup Inc (NYSE:C)

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