TD Cowen cuts Citigroup stock target to USD 148 after Q3 results

Published on 10/20/2026 at 10:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q3 net income reached USD 5.2 billion with 11.5 percent ROTCE. Citigroup stock costs EUR 108.58 on October 20, 2026 at USD 204.2 billion value.

Returns and business growth

TD Cowen lowered its Citigroup target from USD 150.00 to USD 148.00 on October 14, 2026.
Third-quarter revenue reached USD 23.8 billion, up 8 percent year over year.
Citigroup stock traded at EUR 108.58 at 10:43 a.m. CEST at Lang & Schwarz on October 20, 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) saw TD Cowen lower its price target from USD 150.00 to USD 148.00 on October 14, 2026, after the bank's third-quarter results, according to Markets Insider. Citigroup stock was trading at EUR 108.58 at Lang & Schwarz on October 20, 2026 at 10:43 a.m. CEST.

Third-quarter results reset expectations

Citigroup reported USD 23.8 billion of revenue in the third quarter of 2026, up 8 percent from the same period a year earlier. Net income reached USD 5.2 billion, or USD 2.85 in diluted earnings per share, while return on tangible common equity reached 11.5 percent, according to Citigroup on October 13, 2026.

The result beat the USD 2.66 earnings-per-share estimate cited by Reuters. However, trading revenue fell 13 percent from the second quarter, creating a clear counterweight to stronger Services and Wealth performance.

What did the growth engines deliver?

Services revenue rose 15 percent in the third quarter of 2026, while Wealth revenue also increased 15 percent. Banking revenue grew 6 percent, and equity capital markets revenue climbed 77 percent, according to Citigroup.

Management is targeting full-year 2026 return on tangible common equity above 11 percent, compared with its earlier high-end target of 11 percent. The bank also reported a Common Equity Tier 1 ratio of 12.8 percent as of September 30, 2026, giving the target revision a capital cushion.

Three recent Citigroup milestones

In August 2026, Citigroup sold an additional 1.4 percent stake in Banamex and had divested 49 percent in total, according to Citigroup. On October 13, 2026, the bank reported USD 23.8 billion in third-quarter revenue and USD 5.2 billion in net income. On October 14, 2026, TD Cowen cut its target from USD 150.00 to USD 148.00.

Where does the stock stand?

Citigroup's latest results combine broad revenue growth with weaker sequential trading revenue. The next major reference point is the bank's expected Banamex deconsolidation in 2027, while the full-year return target remains above 11 percent.

Citigroup stock was trading at EUR 108.58 at Lang & Schwarz on October 20, 2026 at 10:43 a.m. CEST.

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