Wells Fargo Rates Citigroup (C) buy, $165 Price Target

Wells Fargo analyst Mike Mayo has reaffirmed a buy rating on Citigroup Inc. while setting a $165 price target, a 13.82% upside from the current price.

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Wells Fargo rated Citigroup Inc. ($C) "buy" with a $165 price target on June 18, 2026.

Since the rating, $C is up 1.3% after 1 week, down 10.0% after 1 month and down 12.7% to date (from the $142.34 close on Jun 18, 2026).

C Citigroup Inc.
$124.26 +6.27% year to date
Daily close · Oct 16, 2026

Key Points

  • Wells Fargo analyst Mike Mayo reiterated a buy rating on Citigroup Inc. NYSE C on June 18, 2026, setting a price target of $165.
  • Wells Fargo's $165 price target implies 13.82% upside from Citigroup Inc.'s ($C) current $144.97 share price.
  • Citigroup shares trade at $144.97, resting near the bank's 52-week high of $147.96 and comfortably above its 200-day moving average of $126.35.
  • Wall Street currently tracks the bank with a consensus buy recommendation backed by a mean price target of $150.71 across 21 analyst opinions.

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Wells Fargo Sets $165 Target on Citigroup Stock

Wells Fargo analyst Mike Mayo reiterated a buy rating on Citigroup Inc. NYSE C on June 18, 2026, setting a price target of $165. The updated target leaves room for additional gains as the banking giant's shares change hands around the middle of June. Mayo's target sits above where the equity currently trades, pointing to confidence from the firm regarding the lender's path ahead.

12-month forecast

$C price target

Citigroup Inc. daily closes and this analyst's $165 target. Not advice.

Citigroup Stock Trades Near 52-Week Highs

Citigroup shares recently changed hands at $144.97, placing the stock close to its 52-week peak of $147.96 and well above its 52-week low of $95.00. The valuation comes with a price-to-earnings ratio of 12.01 and a forward price-to-earnings ratio of 9.42 based on expected earnings. The equity continues to trade comfortably above its 50-day moving average of $132.86 and its 200-day moving average of $126.35, reflecting strong positive momentum over recent months.

Wall Street Analyst Coverage and Ratings

Other major financial institutions have recently adjusted their outlooks on the New York-based financial institution. On October 14, 2026, Evercore ISI Group maintained an in-line rating with a $135 target, down from its prior $140 target, while TD Cowen kept a buy rating with a $148 target. RBC Capital also maintained an outperform rating with a $135 target on the same day. Earlier in October, UBS maintained a neutral rating with a $139 target, and JP Morgan kept an overweight rating with a $147 target. HSBC holds a buy rating with a $164 target. Overall, the stock carries a consensus buy recommendation from 21 analysts with a mean price target of $150.71, accompanied by a high estimate of $170.00 and a low estimate of $127.00.

Overview of Citigroup Operations

Citigroup Inc. operates as a diversified financial service holding company providing various financial products and services to consumers, corporations, governments, and institutions. The firm runs five core operating segments, including services, markets, banking, U.S. personal banking, and wealth management. The bank serves clients across North America, the United Kingdom, Japan, and other global markets, drawing on a history that dates back to 1812.

Earnings and Valuation Background

For its recent financial performance, the company generated $83.3 billion in revenue with an 8% growth rate, alongside a net margin of 23.2% and a return on equity of 9.35%. The firm pays an annual dividend yield of 2.18% with a payout ratio of 25.92%. Investors will look toward the next earnings report scheduled for January 14, 2027, for further updates on the bank's financial trajectory.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B 74/100

Reported Apr 14, 2026

  1. Forward outlook

    10 analysts raised price targets.

  2. EPS & revenue

    EPS beat estimates by 13.3%. Revenue beat estimates by 83.8%.

  3. Profit surprise

    Operating income missed by 20 percent.

  4. Pre-earnings setup

    Bar was high, analysts already very bullish.

  5. Analyst signal

    10 target raises.

  6. Earnings quality

    Gross margin up 3.5 points. Operating margin up 3.8 points. Positive free cash flow.

Earnings Call Summary

Citigroup reported strong first quarter results with 14 percent revenue growth, reaching $44.1 billion, and earnings per share of $3.06 well above the $2.64 consensus. Services business revenues jumped 17 percent and Markets surpassed $7 billion in quarterly revenues for the first time in ten years, with equities up nearly 40 percent. Management stressed the bank is only pursuing organic growth and has no interest in acquisitions, and said 90 percent of their regulatory transformation work is now complete or near completion.

Guidance Management reaffirmed their target of 10 to 11 percent return on equity for the full year 2026. They expect net interest income to grow 5 to 6 percent, and said they will share more detail on capital plans and buybacks at an investor meeting in May.

Solid report. Results were generally better than expected, but the forward outlook did not materially change.

Source: Wells Fargo's rating change on $C (Jun 18, 2026). Written by software, not financial advice. How we make alerts

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