Citigroup: Keeping Faith In The Turnaround

Mario Tama There was some panic selling of Citigroup (NYSE:C) stock to close the week; yet, despite some setbacks in Q2, particularly on the expense side, the direction of travel of Citi’s turnaround remains very positive. Yes, another regulatory penalty adds unwelcome uncertainty near-term, but the more important development, in my view, is that Citigroup’s mid-term P&L targets remain firmly intact. More broadly, all the key self-help levers have only gained traction since I last covered the name (see  ...