Wells Fargo Raises Citigroup (C) Price Target to $165

Wells Fargo raised its price target on Citigroup (C) to $165 from $162, reiterating an Overweight rating. The update follows Citigroup's inclusion in Insider Monkey's list of top 12 dividend stocks to buy according to billionaire Cliff Asness.

Rating Change

• Previous Rating: Overweight
• Current Rating: Overweight
• Previous Price Target: $162
• New Price Target: $165

Analyst Rationale

Wells Fargo analysts believe Citigroup is positioned to exceed its 2026 return on tangible common equity (ROTCE) target. The optimism is driven by improved operational efficiency, revenue growth in key segments, and lower credit costs.

Context

This report follows Citigroup's inclusion in Insider Monkey's top 12 dividend stocks list based on billionaire Cliff Asness's portfolio. The bank continues its restructuring strategy, focusing on consumer and corporate banking.

What to Make of It

The price target increase reflects analyst confidence in Citigroup's ability to achieve long-term profitability goals. However, actual performance remains subject to macroeconomic conditions and interest rates.