After Citigroup released third-quarter results on October 13, 2026, three investment banks lowered their price targets on October 14.
TD Cowen cut its target to $148 from $150. Jefferies lowered its target to $155 from $160. Royal Bank of Canada made the largest cut, lowering its target to $135 from $150.
Citigroup exceeded analyst expectations, with notable performance in its bond, foreign exchange, and commodities trading division. Analysts nevertheless took a cautious view, reportedly citing concerns about the pace of stock buybacks and management’s guarded fourth-quarter forecast.
That sentiment contributed to Citigroup’s worst earnings-day stock performance in more than five years.