Goldman Sachs Keeps Buy Rating on Citigroup as Earnings Soar

Goldman Sachs analyst Richard Ramsden has reaffirmed his Buy rating on Citigroup (C), citing the company's strong financial performance. In a report released yesterday, September 16th, Ramsden maintained a price target of $169.00 for Citigroup shares, which closed at $136.17.

Ramsden, who covers the Financial sector and has an impressive track record with an average return of 18.4% and a success rate of 77.44%, believes in Citigroup's growth potential. The company's latest earnings release for the quarter ending June 30 showed revenue of $45.3 billion and net profit of $5.83 billion, compared to last year's revenue of $42.35 billion and net profit of $4.02 billion.

Citigroup has an analyst consensus of Strong Buy, with a price target consensus of $157.17, representing a 15.42% upside from current levels. Barclays also maintained a Buy rating on the stock with a $154.00 price target, adding to the positive sentiment around Citigroup's shares.