Core Viewpoint - Keefe, Bruyette & Woods analyst David Konrad raised the price forecast for Citigroup, Inc. to $118 from $112 while maintaining an Outperform rating [1] Recent Earnings - Citigroup reported third-quarter revenue of $22.09 billion, reflecting a 9% year-over-year increase and exceeding expectations [2] - Strong performances were noted across Markets, U.S. Personal Banking, and Investment Banking [2] - The bank anticipates fiscal 2025 revenue to exceed its previous estimate of $84 billion, compared to the analyst consensus estimate of $84.95 billion [2] Analyst's View - The analyst believes Citigroup's turnaround is on track, with a ROTCE target of 10%–11% for 2026 appearing increasingly achievable due to steady business progress and a supportive regulatory environment [3] - The upcoming 2026 Investor Day on May 7 may refocus attention on the higher ROTCE goal of 11%–12% [3] Estimates Raised - EPS estimates for 2025 were raised by 5% to $8.10 from $7.74 following the strong third-quarter performance [4] - EPS estimates for 2026 were increased by 2% to $9.90, and for 2027 by 3% to $11.90 based on stronger revenue expectations [4] - Citigroup shares rose by 1.44% to $97.65 at the time of publication [4]