Morgan Stanley keeps USD 164 target for Citigroup stock

Published on 10/21/2026 at 11:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter revenue reached USD 23.8 billion on October 13, 2026, up 8 percent. Citigroup stock trades at EUR 109.69 on October 21, 2026.

Target and quarterly performance

Morgan Stanley reiterated a USD 164.00 target for Citigroup on October 14, 2026.
Third-quarter 2026 revenue rose 8 percent to USD 23.8 billion.
Citigroup stock traded at EUR 109.69 at 11:33 a.m. CEST at Lang & Schwarz on October 21, 2026.

Fotorealistisches Luftbild des New Yorker Finanzviertels bei Sonnenaufgang — Citigroup Inc. zeigt globales Bankenzentrum Manhattan Skyline bei goldenem Sonnenaufgang über dem Finanzdistrikt US1729674242, Illustration mit AI erstellt.

Citigroup Inc. (ISIN US1729674242) drew a reiterated USD 164.00 price target from Morgan Stanley after its third-quarter results. The bank reported the figures on October 13, 2026, while TheStreet said the Morgan Stanley note was dated October 14, 2026.

Results reset the earnings baseline

According to Citigroup, third-quarter 2026 revenue reached USD 23.8 billion, an 8 percent year-over-year increase and the bank's best third-quarter revenue in a decade. Net income was USD 5.2 billion, or USD 2.85 in diluted earnings per share, while return on tangible common equity reached 11.5 percent.

The earnings release also showed broad segment growth. Services revenue rose 15 percent to USD 6.6 billion, Wealth revenue increased 15 percent to USD 3.3 billion, and Banking revenue grew 6 percent to USD 1.7 billion in the third quarter of 2026.

Three milestones define the story

On August 1, 2026, Citigroup sold an additional 1.4 percent equity stake in Banamex, bringing the divested share to 49 percent, according to Citigroup. On October 13, 2026, the bank reported USD 5.2 billion in third-quarter net income and USD 23.8 billion in revenue. On October 14, 2026, Morgan Stanley reiterated its Overweight rating and USD 164.00 target, as reported by TheStreet.

What does the target mean for returns?

Morgan Stanley's view centers on Citigroup's operating improvement rather than a single quarter. The bank is targeting above 11 percent return on tangible common equity for full-year 2026, compared with its earlier 10 percent to 11 percent target, according to TheStreet. Citi also returned USD 4.1 billion to common shareholders through repurchases and dividends in the third quarter of 2026, while its efficiency ratio was 58.5 percent.

Next date for investors

Citigroup's next earnings release is scheduled for January 14, 2027, according to Trefis. The company also expects Banamex deconsolidation in 2027, a transition that remains central to the bank's capital and earnings outlook.

Stock price and valuation context

Citigroup stock was trading at EUR 109.69 at Lang & Schwarz on October 21, 2026, at 11:33 a.m. CEST. A separate market reference placed Citigroup's market capitalization at USD 207.0 billion on October 20, 2026, according to Trefis. The further course of trading is shown by the continuously updated real-time quote of Citigroup stock.