Wells Fargo Reiterates Overweight Rating on Citi (C)

Wells Fargo analyst Mike Mayo reiterated an Overweight rating and $125.00 price target on Citi (NYSE: C)

The analyst comments "Citi is recording a pretax loss of $1.2B with its exit from Russia; we adjust our 4Q25 estimates downward for this charge (no change to future estimates). Exiting Russia. Citi announced the planned sale of its remaining Russian ops to Renaissance Capital (expected 1H26 close). Owing to adjustments to Russian-related currency translation adjustments, Citi is recording a pretax loss of $1.2B (or an est. $0.61/ sh after-tax), and as a result, we lower 4Q25 GAAP EPS to $0.93. The net impact on Citi's capital will be reversed on sale (flowing through CTAs in AOCI). No change to our EPS for 2026E ($10.25) and 2027E ($12.05). A new simplified Citi. The sale of Citi's Russian ops has been planned for several years. The exit helps further Citi with its transformation and exits from non-US consumer markets. Out of 14 original exits, 5 remain: China is immaterial, Russia and Poland sales are announced with expected closes by mid-2026, Korea is winding down (with declining exposures), and MX IPO is on plan (estimated late 2026/early 2027)."

For an analyst ratings summary and ratings history on Citi click here. For more ratings news on Citi click here.

Shares of Citi closed at $117.21 yesterday.

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