Citigroup shares are trading higher after Morgan Stanley upgraded the stock from Underweight to Overweight and raised its price target from $46 to $65.
Portfolio Pulse from Benzinga Newsdesk
Citigroup's stock (C) is trading higher following an upgrade by Morgan Stanley from Underweight to Overweight, with a price target increase from $46 to $65.
January 30, 2024 | 3:14 pm
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POSITIVE IMPACT
Citigroup's stock is likely to experience a positive short term impact due to Morgan Stanley's upgrade and increased price target.
Analyst upgrades typically lead to a positive short term reaction in the stock market as they suggest a better outlook for the company. The substantial increase in price target from $46 to $65 by a reputable firm like Morgan Stanley indicates a strong conviction in Citigroup's potential, which can instill confidence in investors and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100