Wolfe Research Raises Citigroup (C) PT Citing Constructive Outlook for Preferred Subsectors

Group 1: Price Target Adjustments - Wolfe Research raised Citigroup's price target to $141 from $121, maintaining an Outperform rating [1] - HSBC increased its price target for Citigroup to $87 from $77, while maintaining a Buy rating [2] - TD Cowen raised its price target for Citigroup to $130 from $110, maintaining a Hold rating [3] Group 2: Market Outlook - Wolfe Research highlighted Retail Brokers and Alternative Asset Managers as preferred subsectors, expecting them to outperform within the broader Banks, Brokers, and Alts landscape [1] - HSBC viewed the recent pullback in bank stocks as a selective opportunity for investors to increase exposure to the sector, raising adjusted EPS estimates for 2025-2026 by approximately 1% to 7% across its banking coverage [2] - TD Cowen noted durable tailwinds expected to support bank stocks, including a likely dovish stance from the Fed chair [3] Group 3: Company Overview - Citigroup Inc. is a diversified financial service holding company providing various financial products and services to consumers, corporations, governments, and institutions, operating through five segments: Services, Markets, Banking, US Personal Banking, and Wealth [4]