ValueAct’s Morfit says Citigroup is positioned for growth, sees higher share price By Reuters

© Reuters. The Citigroup Inc logo is seen at the SIBOS banking and financial conference in Toronto

BOSTON (Reuters) – ValueAct Capital Management, a long-time investor in Citigroup Inc (NYSE:), called the company the best institutional bank in the world that is positioned for growth and said its share price could double in the near term.

“The upside is very compelling,” Mason Morfit, ValueAct’s chief executive officer and chief investment officer said about Citi, which his firm has owned since 2018, at the 13D Monitor Conference on Thursday.

He forecast the stock price, currently trading at $44.91, could jump to $80 in the near term and rise more to hit $150 over time.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.