Citigroup: Still Cheap, Despite The Recent Rally, Maintain Buy

Tara Moore We previously covered Citigroup Inc. (NYSE:C) in May 2024, discussing the stock's optimistic rally as it outperformed the wider market, with it underscoring the reversal in market sentiments. At that time, we had reiterated our Buy rating, since the bank's impacted FQ1'24 RoTCE was mostly attributed to the one-time FDIC special assessment expense and restructuring-related costs, with things likely to lift from FQ2'24 onwards as the management reiterated the FY2024 guidance. Since then, C has  ...