Citigroup Price Target Bumped at BMO

Citigroup, a financial services company, had its price target increased at BMO Capital, to $65 from $64. “That target is predicated on our two-year-forward core EPS forecast, capital-adjusted growth over the next two years, dividends, and our estimate of C’s excess capital,” analyst James Fotheringham, wrote in a research note to investors on Friday.

He added that BMO’s target does not yet consider policy changes proposed by U.S. President Donald Trump, which BMO estimates could add as much as 18% to BMO’s current two-year-forward core EPS forecast. BMO Capital, which has an “outperform” rating on Citigroup said it has lowered its forward estimates by 1% to 4% due to higher expected taxes. The brokerage lowered its core EPS estimates for Citigroup by 1% in 2017 (from $5.01 to $4.95), 2% in 2018 (from $6.08 to $5.94), and 4% in 2019 (from $7.24 to $7.05).

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