Citigroup (C) Could Surpass Long-Term Profitability Target, According to Wells Fargo

Citigroup Inc. (NYSE:C) is included among the Top 12 Dividend Stocks to Buy According to Billionaire Cliff Asness.

On June 18, Wells Fargo raised its price recommendation on Citigroup Inc. (NYSE:C) to $165 from $162. It reiterated an Overweight rating on the shares. The firm believes Citi is positioned to exceed its 2026 return on tangible common equity (ROTCE) target. According to the analyst, strong performance in capital markets, payments, and net interest income, supported by higher interest rates, should help the company surpass both its long-term target and Wells Fargo’s expectations for the second quarter.

On June 11, The Wall Street Journal reported that Citigroup is creating a platform that will allow wealthy and institutional clients to trade shares of private companies using blockchain technology. The bank hopes the platform will gain adoption among other major Wall Street firms.

Citigroup said it is already in discussions with some of the largest private companies about participating in the initiative. The platform is designed to expand access to private-company investments at a time when many businesses are waiting longer before going public.

The service is initially available only to foreign investors and will generate revenue through transaction and maintenance fees. Citi plans to extend access to US investors at a later stage. The bank also said the infrastructure can be used by other financial institutions.

Citigroup Inc. (NYSE:C) is a global diversified financial services holding company. Its operating segments include Services, Markets, Banking, Wealth, and U.S. Personal Banking (USPB).

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