Citigroup trading at a discount to book value, analyst says in upgrade

Citigroup Inc. C stock is currently trading at a 52.7% discount to its book value, Odeon Capital analyst Richard Bove said Tuesday as he boosted his rating on the bank to buy from hold. “The bank, unlike its peers, clearly benefitted from higher interest rates and it has a more positive longer-term outlook,” Bove said. The company’s discount valuation reflects its past business focused on the retail banking sector. “This is a capital markets company not an international retail bank,” Bove said.

... Citigroup Inc. C stock is currently trading at a 52.7% discount to its book value, Odeon Capital analyst Richard Bove said Tuesday as he boosted his rating on the bank to buy from hold. “The bank, unlike its peers, clearly benefitted from higher interest rates and it has a more positive longer-term outlook,” Bove said. The company’s discount valuation reflects its past business focused on the retail banking sector.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dragonfly Capital leads $6 million seed funding round for Ethereum stablecoin developer Ethena: AxiosThe firm created its ethereum-backed stablecoin USDe after the prominent Terra ecosystem collapse of 2022.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Rivian stock heads for 3rd-straight drop as Tesla’s Cybertruck seen as ‘fundamental and headline risk’Shares of Rivian Automotive Inc. fell 0.8% toward a third-straight loss in premarket trading Monday, after Tesla Inc.’s first Cybertruck was rolled off the...
Source: MarketWatch - 🏆 3. / 97 Read more »