Keefe Bruyette raised the firm's price target on Citi to $159 from $153 and keeps an Outperform rating on the shares. The recent action in bank stocks is constructive, as discounted valuations and fundamental momentum are allowing for the rotation discussion to continue, the analyst tells investors in a research note. The firm added that "higher for longer" is firmly entrenched in market expectations, and this elevates the discussion/risk around profitably funding improving loan growth, and while capital markets momentum is palpable, questions around broadening and sustainability are front and center.
