Citigroup Inc. (NYSE:C) is one of the 10 Cheap Large Cap Stocks to Buy According to Hedge Funds. In a report released on July 7, HSBC maintained a Buy rating on Citigroup Inc. (NYSE:C), raising the price target on the stock to $97 from $86.
The firm told investors in a research note that it is more cautious towards universal banks and brokers after the recent share rally in the domain. It stated that although the healthy fundamentals in the banks and broker group are obvious, share valuations appear “increasingly stretched.” The firm suggests a more constructive stance on super-regionals.
Headquartered in New York, Citigroup Inc. (NYSE:C) provides financial products and services. Its operations are divided into the following segments: Services, Markets, Banking, Wealth, US Personal Banking (USPB), and All Other.
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Disclosure: None. This article is originally published at Insider Monkey.