Citigroup (C): A Detailed Analysis of Its Stock Performance and Future Outlook
Citigroup (C) is a widely respected bank that has garnered the attention of notable investors like Bill Nygren of Oakmark and Warren Buffett’s Berkshire Hathaway. These renowned value investors have expressed their confidence in the stock, prompting others to take interest as well. The stock has shown resilience in the past, with its price reaching $80 per share multiple times. However, it took over two and a half years for the stock to start its ascent towards $80 again. This time, Citigroup CEO Mike Mayo predicts that the stock will double from its late October ’23 lows. While temporary factors like the zero interest rate policy and capital markets played a role in the stock’s previous increases, a permanent improvement in fundamentals may also contribute to its growth.
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