C BUY - 50, TP - 58, SL - 47

NYSE:C   Citigroup, Inc
Citigroup Inc (C)

Report on 14.04.2022 banking

BUY - 50
TP - 58
SL - 47

The idea is more based on technical analysis. At present the price stands on the cross of two support lines and we can see oversold Stoch. Thats why i am waiting for at least a speculative bounce in the region of 58$.

Macroeconomic issues, such as raise of FED rate, inflation, recession risks, Ukreaine-Russia conflict, to mind mind are mostly priced in, as we have experienced 25% decline since last quarterly report.

Fundamentials on bank itself:
+ The bank is evaluated at 60% of its book value;
+ Dividends of 4% - the highest yield among top 5 US banks
+ Beating analysts' forecasts of 4 quarters in a row
- Increase of operational expenses
- Risks of closing business operations in Russia

In the ideal scenario the idea will come true if tomorrow's quarterly report is stronger than expected. But in the same time You should be ready to hold the stock for a little while in mid or long term.


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