Citigroup Analysts Increase Their Forecasts After Q4 Earnings

Core Viewpoint - Citigroup reported mixed fourth-quarter results, with earnings exceeding expectations but revenue falling short of estimates [1][2]. Financial Performance - Fourth-quarter revenue was $19.87 billion, a 2% increase year over year, but below the analyst consensus of $20.53 billion; excluding divestiture impacts, revenue increased by 8% [1]. - Net income declined by 13% year over year to $2.5 billion, impacted by a $1.1 billion after-tax loss related to the exit from Russia; adjusted net income was $3.6 billion, with adjusted earnings per share at $1.81, surpassing expectations of $1.68 [2]. Market Reaction - Citigroup's CFO Mark Mason indicated that the bank is closely monitoring market reactions and has minimal exposure to current geopolitical situations, having sold its Venezuelan operations in 2021; he refrained from commenting on future business plans regarding Venezuela [3]. - Following the earnings announcement, Citigroup shares rose by 4.1% to $117.00 [3]. Analyst Ratings - Oppenheimer analyst Chris Kotowski maintained an Outperform rating on Citigroup and raised the price target from $141 to $144 [5]. - Morgan Stanley analyst Betsy Graseck also maintained an Overweight rating, increasing the price target from $134 to $135 [5].