TD Cowen Cuts Citigroup (C) Price Target to $148
TD Cowen has reiterated its Buy rating on Citigroup with a new price target of $148, down from $150, a 19.75% upside from the current price.
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TD Cowen cut its price target on Citigroup Inc. ($C) to $148 from $150 on October 14, 2026, and rates the stock "Buy".
Since the rating, $C is up 1.6% to date (from the $122.27 close on Oct 14, 2026).
C
Citigroup Inc.
Key Points
- On October 14, 2026, TD Cowen reiterated its Buy rating on Citigroup Inc. (C) and adjusted its price target to $148 from $150.
- TD Cowen's $148 price target implies 19.75% upside from Citigroup Inc.'s ($C) current $123.59 share price.
- As of October 16, 2026, Citigroup shares are trading at $123.59, which is 16.5% below the average analyst target of $150.71.
- Citigroup has a market cap of about $206.7 billion and a P/E ratio of 12.0, reflecting its position in the diversified financial services sector.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Citigroup Inc. alert may contain errors. Disclosures
TD Cowen has reiterated its Buy rating on Citigroup Inc. (C) and adjusted its price target to $148, down from $150, on October 14, 2026.
TD Cowen's Call on Citigroup
TD Cowen maintained a Buy rating on Citigroup, signaling confidence in the company's future despite lowering the price target. The new target of $148 suggests a potential upside from the recent trading price of $123.59.
Other Institutional Activity in Citigroup
Several notable funds have adjusted their positions in Citigroup recently. Blackrock Inc. reduced its holdings by 4,275,206 shares, ending with 149,509,189 shares worth about $18.6 billion. Vanguard Capital Management LLC also lowered its stake, selling 2,423,343 shares for a total of 107,230,182 shares valued at approximately $13.3 billion. State Street Corporation trimmed its position slightly, down by 132,670 shares, for a total of 77,908,419 shares worth around $9.7 billion. Geode Capital Management, LLC decreased its holdings by 1,256,652 shares, ending with 41,054,866 shares worth about $5.1 billion. In contrast, Fisher Asset Management, LLC increased its stake by 1,236,220 shares, totaling 36,456,162 shares valued at about $4.5 billion.
Citigroup Inc. Stock Up 1.1%
Citigroup shares recently traded at $123.59, which is below its 50-day moving average of $132.86 and 200-day moving average of $126.35. The stock is also 16.5% below the average analyst target price of $150.71 and 30.1% above its 52-week low of $95.00.
$C price target
Citigroup Inc. daily closes and this analyst's $148 target. Not advice.
Recent Earnings
Citigroup reported trailing twelve-month revenue of about $83.3 billion and an EPS of $10.26. The company achieved a net margin of 23.2% and a return on equity of 9.4%. Its next earnings report is scheduled for January 14, 2027.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
10 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 13.3%. Revenue beat estimates by 83.8%.
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Profit surprise
Operating income missed by 20 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
10 target raises.
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Earnings quality
Gross margin up 3.5 points. Operating margin up 3.8 points. Positive free cash flow.
Earnings Call Summary
Citigroup reported strong first quarter results with 14 percent revenue growth, reaching $44.1 billion, and earnings per share of $3.06 well above the $2.64 consensus. Services business revenues jumped 17 percent and Markets surpassed $7 billion in quarterly revenues for the first time in ten years, with equities up nearly 40 percent. Management stressed the bank is only pursuing organic growth and has no interest in acquisitions, and said 90 percent of their regulatory transformation work is now complete or near completion.
Guidance Management reaffirmed their target of 10 to 11 percent return on equity for the full year 2026. They expect net interest income to grow 5 to 6 percent, and said they will share more detail on capital plans and buybacks at an investor meeting in May.
Solid report. Results were generally better than expected, but the forward outlook did not materially change.
Insider Buying and Selling at Citigroup Inc.
Insider trading activity at Citigroup includes several sales. Chief Financial Officer Mark A.L. Mason sold 3,627 shares on February 20, 2026, for a total value of approximately $416,045. On April 15, 2026, Officer Edward Skyler sold 25,000 shares at an average price of $131.41, valuing the transaction at about $3.3 million. Also on April 15, Officer Nicole M. Giles sold 12,732 shares for about $1.7 million at an average price of $131.80. Director John Cunningham Dugan sold 2,117 shares on May 8, 2026, for a total of around $265,260.
Analysts Set New Price Targets
On October 14, 2026, alongside TD Cowen's action, Evercore ISI Group maintained its In-Line rating with a target of $135, down from $140. Earlier, on October 2, JP Morgan maintained an Overweight rating with a target of $147, while UBS kept a Neutral rating with a target of $139, down from $142. The consensus from 21 analysts suggests a mean price target of $150.71 for Citigroup.
About Citigroup
Citigroup Inc. is a diversified financial holding company based in New York, NY. It offers a wide range of financial products and services to various clients, including consumers, corporations, and governments. The company operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The recent rating adjustments by analysts highlight ongoing interest in Citigroup's performance in the financial services sector.
Bottom Line
Investors should keep an eye on Citigroup as it approaches its next earnings report on January 14, 2027. Analysts continue to show interest in the stock, despite some recent downgrades in price targets. TD Cowen's reiteration of its Buy rating indicates confidence in Citigroup's long-term prospects.
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Source: TD Cowen's rating change on $C (Oct 14, 2026). Written by software, not financial advice. How we make alerts