Citigroup Q1 Results Rank Top Among Peers, Keep Markets Interested Through Investor Day, UBS Says
Citigroup (C) Q1 results are the "best among peers so far" and keep the markets interested through Investor Day, UBS Securities in a note emailed Wednesday.Noting Citigroup's better-than-expected results, UBS said that the Services segment "continues to wear its crown well," with Treasury & Trade Solutions being the driver. The Markets segment beat consensus, aided by Fixed Income, Currencies & Commodities business coming largely in line and Equities business beating Wall Street estimates by 21%, according to the note.UBS further said that Citigroup repurchased $6.3 billion of shares versus the Wall Street estimate of $4.4 billion in Q1 and that the company will buy back more this year, versus last year.UBS maintained its neutral rating on the company with a $132 price target.Price: $131.48, Change: $+1.90, Percent Change: +1.47%