BMO Capital Analyst Reiterates Outperform Rating on Citigroup Inc (C)

BMO Capital analyst James Fotheringham reiterates his Outperform rating for Citigroup Inc (NYSE:C) following the company’s 2Q earnings report.

The analyst explains that Citigroup’s 2Q16 EPS of $1.29 beat consensus estimates of $1.11 by an impressive 16%. He notes, “Relative to our forecasts, it was an ‘across-the-board’ beat driven by lower-than-expected provisions for loan losses, higher net interest income, higher non-interest income, and lower operating expenses.”

The analyst issues a price target of $66.00.

According to TipRanks, James Fotheringham is ranked #2,731 of 4,058 analysts and maintains a success rate of 58% with an average return of -0.4%. When rating C, the analyst upholds a success rate of 33% with an average profit of 0.2%.

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