C - 1 Analyst Thinks This Cheap Bank Stock Can Double From Here: Is It a Buy?
2024-01-07 06:30:00 ET
Citigroup (NYSE: C) Chief Executive Officer Jane Fraser has been making moves to turn the sprawling bank into a leaner, more profitable business. The bank has made several moves in recent years to realign its business and restructure its management team, and investors have taken notice. Analysts at Wells Fargo believe Citigroup's stock could double during the next three years due to these strategic moves.
Citigroup trades at a steep discount and touts a dividend yield of almost 4%, making it appealing to value and dividend investors. Here's what would need to happen for the stock to double from here and whether the bank is a good buy for investors today.
Citigroup is a huge bank with a global reach, with consumer banking businesses around the world, at one time including in Australia, India, Vietnam, and the Philippines. While it had a broad reach, the bank spread itself thin, making it hard to analyze and manage risks, and it has underperformed relative to its banking peers as a result.
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1 Analyst Thinks This Cheap Bank Stock Can Double From Here: Is It a Buy?