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Yahoo Finance Premium is bullish on Citigroup after earnings

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Yahoo Finance's Alexis Christoforous and Jared Blikre discuss Citigroup following the company's earnings report.

Video Transcript

ALEXIS CHRISTOFOROUS: All right, I want to hit Citigroup, though, because I know that Yahoo Finance Premium is bullish on Citigroup earnings. What can you tell us there?

JARED BLIKRE: That's right. This is a report by Argus Research. And here's another stock that has been doing well. They just reported earnings on Friday. But you can see they're up almost 50% over the last three months. So Argus is writing today they have a long-term target of $74. This is based on their earnings outlook here. So weak revenues and fourth quarter offset by credit cost recapture. Revenues declined in global consumer banking, but results were helped by a small recapture and credit costs on an improving credit outlook versus at the height of the pandemic. Talking about their valuation.

And then just kind of concluding here, while we acknowledge near-term earnings volatility, we believe that Citi's improved capital position and better return on equity metrics just prior to the coronavirus downturn, that points to a firm that is poised to weather the current crisis and participate in the rebound. So the price target there of about $74 would put it in line with last February's highs, Alexis.