Citigroup
Citigroup Inc.
Citigroup is a New York-based bulge-bracket bank whose Citi Research division, part of the Citigroup Global Markets securities arm, publishes equity, economic and strategy research worldwide; Euromoney named Citi the world's best bank for research in 2025.
Company history
Citigroup traces its lineage to the City Bank of New York, chartered in 1812, and was formed in 1998 by the merger of Citicorp and Travelers Group, which brought the Salomon Smith Barney securities business. That unit was renamed Citigroup Global Markets in 2003, the year it paid $400 million in the global research analyst settlement. In 2009 Smith Barney's retail brokerage moved into a joint venture with Morgan Stanley. Equity research operates today as Citi Research.
- 1812City Bank of New York chartered
- 1998Citicorp and Travelers merge to form Citigroup
- 2003Salomon Smith Barney renamed Citigroup Global Markets
- 2003Pays $400 million in global research analyst settlement
- 2011Citi Research replaces Hold rating with Neutral
- 2025Named Euromoney's world's best bank for research
Research
Citi Research covered more than 3,700 stocks and the economies of over 60 countries in 2025. Stocks are rated Buy (expected total return of at least 15%, or 25% for High Risk stocks), Neutral or Sell (negative expected total return) over 12 months, with an optional High Risk designation; Neutral replaced Hold in 2011. A separate Catalyst Watch system flags shorter-term, event-driven calls alongside the 12-month rating.
Coverage12M
- Stocks
- 1,513
- Ratings
- 4,479
- Price targets
- 1
- Median upside
- −0.4%
- Upgrades
- 215
- Downgrades
- 231
- Initiations
- 98
- Reiterations
- 3,935
- Targets raised
- 1
- Targets cut
- 0
- Positive60%906
- Neutral36%546
- Negative4%55
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 CRMSalesforce, Inc. | Market Outperform | $164 |
 STXSeagate Technology Holdings plc | Buy | $130 |
 WDCWestern Digital Corporation | Buy | $85 |
 AMDAdvanced Micro Devices, Inc. | Sell | $200 |
 ARCBArcBest Corporation | Market Outperform | $111 |
 MSFTMicrosoft Corporation | Market Outperform | $497 |
 MUMicron Technology, Inc. | Buy | $150 |
 SAIASaia, Inc. | Buy | $294 |
 SBUXStarbucks Corporation | Neutral | $96 |
 SNOWSnowflake Inc. | Buy | $200 |
Analysts24M
- Paul LejuezUAA · COST · COLM12
- Jon TowerCAKE · SBUX · EAT10
- Ariel RosaCNI · CSX · ARCB10
- Ronald JoseyMETA · FTV · CVNA9
- Scott GruberLBRT · BKV · BKR8
- Keith HorowitzJPM · FITB · CFG8
Recent actions
| Stock | Rating action | Rating | Date |
|---|---|---|---|
| AYAytu BioPharma, Inc.AYTU | Reiterate | Positive | Sep 22 |
 Knight-Swift Transportation Holdings Inc.KNX | Reiterate | Buy | Sep 22 |
 SAP SESAP | Reiterate | Buy | Sep 22 |
| SCSCGLY | Reiterate | Buy | Sep 22 |
 Brinker International, Inc.EAT | Upgrade | Buy | Sep 22 |
 Popular, Inc.BPOP | Reiterate | Buy | Sep 22 |
 First Horizon CorporationFHN | Reiterate | Buy | Sep 22 |
| BKBankUnited, Inc.BKU | Reiterate | Sell | Sep 22 |
| KEKeyCorpKEY | Reiterate | Neutral | Sep 22 |
 U.S. BancorpUSB | Reiterate | Buy | Sep 22 |
| FIFifth Third BancorpFITB | Upgrade | Neutral →Buy | Sep 22 |
| CMCMPGY | Upgrade | Neutral →Buy | Sep 22 |
Similar coverage12M
References
- The world's best bank for research 2025: Citi - Euromoneyeuromoney.com
- After 'Significant' Review, Citi Research Renames 'Hold' Rating to 'Neutral' - CNBCcnbc.com
- Citi Research report with investment rating and Catalyst Watch definitionscitigroup.com
- SEC litigation release: Citigroup Global Markets, f/k/a Salomon Smith Barney (2003)sec.gov
- Jane Fraser Elected Chair of Citi's Board of Directors (2025)citigroup.com
- Citigroup - Wikipediaen.wikipedia.org