Goldman Sachs Favors Citigroup and JPMorgan Over Bank of America
The firm reported on Monday that it has maintained a “Conviction Buy” on Citigroup, and has increased its price target from $55 to $56. This price target suggests a 19% increase from the stock’s current price of $45.34.
The firms analyst, Richard Ramsden said that based on risk and reward, he favors both Citigroup and JPMorgan over Bank of America.
Ramsden commented, “both C and JPM trade at lower multiples than BAC despite offering better long-term growth profiles. While near-term capital returns at C and JPM have been on the disappointing side, we view them as better positioned to return capital over the longer term