Citigroup Price Target Raised to $139 as Hedge Funds Trim Dollar Bets
RBC Capital raised Citigroup’s price target to $139 from $121, implying 7.2% upside as Bingham Private Wealth added a new $847k stake. Separately, hedge funds have trimmed bullish dollar positions after US-Iran talks optimism, signaling potential forex volatility that could affect Citigroup’s international revenue.
1. RBC Capital Raises Price Target
RBC Capital increased its price target for Citigroup from $121 to $139, representing a 7.2% potential gain. The revision follows Citigroup reaching a 52-week high of $130.99 and reflects analyst optimism on the bank’s revenue growth and capital efficiency.
2. Institutional Investors Boost Stakes
Bingham Private Wealth acquired approximately $847,000 in new Citigroup shares, while additional new positions were established by Maseco LLP. Existing investors such as Wolff Wiese Magana and Dunhill Financial increased their holdings by 87.6% and 92.2% respectively in the third quarter.
3. Hedge Funds Adjust Dollar Positions
Hedge funds have pared back bullish dollar bets after renewed US-Iran talks optimism, shifting risk reversals toward neutral levels. This change signals potential foreign-exchange volatility that could influence Citigroup’s international revenue streams.