Citigroup Poised to Win in 2020, Goldman Says in Upgrade

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Citigroup Poised to Win in 2020, Goldman Says in UpgradeAnalyst Richard Ramsden said in a research note that he sees “a realistic path” to a 13% return on tangible common equity, or Rotce, in 2020, which would top market expectations by 100 basis points. “The market is overly pessimistic on Citigroup’s revenue growth inflection, targeted expense savings, and outlook for credit costs given the improvement in the risk profile of their international loan book,” he said. Citigroup’s ability to keep getting better in 2020 will likely become key for stock valuation in the coming months, he said.

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