Oppenheimer Reaffirms Buy on Citigroup (C), Trims Target to $123

Citigroup Inc. (NYSE:C) is one of the best value stocks in Goldman Sachs’ portfolio. On September 23, 2025, Oppenheimer analyst Chris Kotowski reaffirmed a Buy rating on Citigroup, with a price target of $123, slightly trimmed from $124.

Kotowski pointed out that the banking sector is entering a period of steady earnings growth, with estimates showing low-teens growth expected in 2026. He supports his view by highlighting major trends that are visible now. First of all, he states that loan growth is improving and believes that credit card losses have already peaked. Additionally, capital ratios remain strong, M&A activity is picking up, and trading revenues are holding up well.

While Oppenheimer’s team of analysts views investment banks like Goldman Sachs and Morgan Stanley as richly valued, they consider commercial banks to be still trading at reasonable valuations. For this group, which includes Citigroup, the firm highlights five supportive factors: loan growth momentum, improved credit quality, benefits from asset repricing, share repurchases, and operating leverage.

Oppenheimer lists Citigroup among its top picks, alongside U.S. Bancorp, PNC, and Bank of America, positioning it as one of the better opportunities in the large-cap banking sector.

Citigroup Inc. (NYSE:C) is a leading global financial institution providing a broad range of banking and financial services.

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Disclosure: None. This article is originally published at Insider Monkey.