UBS Initiates Coverage Of Citigroup With A Buy Rating And Pr

May 04, 2011

UBS initiated coverage of Citigroup (NYSE:C) with a buy rating and a price target of $5.60.UBS cited Citigroup's global consumer banking footprint as a competitive advantage, which provides the bank with a clear point of differentiation relative to its peers. It is one of the few truly global consumer banks, and should be able to generate higher loan and deposit growth than some of its U.S. focused peers.Citigroup has a potential upside of 24.3% based on a current price of $4.54 and an average consensus analyst price target of $5.64.