Model update: Remain Overweight
We are updating our C model to reflect Q4 results, industry trends and revenue guidance from management. As a result, our FY18 forecasts increase by 0.3% as higher non-interest revenue estimates are only partly offset by higher operating costs and provisions. Our FY19 EPS estimates remain unchanged. Our price target remains at $91 and we retain our Overweight recommendation.Citigroup is a financial services holding company whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The company operates via two primary business segments: Global Consumer Banking, which provides banking services to retail customers through retail banking, Citi-branded cards and Citi retail services; and Institutional Clients Group, which includes banking and markets and securities services.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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