Stock Groups

Citigroup CEO Jane Fraser sees ‘tremendous upside’ in stock after tepid Investor Day response

[ad_1]

Jane Fraser, Citigroup’s chief executive for Latin America, smiles in the middle of Monday’s Milken Institute Global Conference. It was held in Beverly Hills (California), U.S.A. on April 29th 2019. It brings together top leaders in government, business, technology and academia to talk about practical and creative solutions to the world’s greatest questions. Kyle Grillot/Bloomberg via Getty Images

Getty Images| Bloomberg | Getty Images

CitigroupJane Fraser CEO called Jane her first Investor Day conferenceThe bank’s success was despite the lingering doubts and an indifferent reaction of analysts.

CNBC’s David Faber spoke to Fraser Thursday, saying that it would “take some years” for her to reach her goals in returns. However, she said investors will soon see revenue growth as a result of her efforts. This interview was broadcast on “The View.”Squawk on the Street.”

Fraser responded to a question about how long Citigroup will trade below its book value.

Fraser is the Citigroup CEO. a year agoOn Wednesday, she held her first investor conference. Fraser, along with her assistants, presented their vision of an easier and more lucrative institution that would be centered on its strengths in payments and global corporate banking.

Some analysts weren’t happy that Fraser had set a medium term return goal of between 11% and 12%. They argued that Citigroup stock is difficult to recommend because that level will not be achieved in the foreseeable future. Two analysts downgraded the bankAfter the event.

Atlantic Equities’ John Heagerty wrote in a note on Thursday that “the uninspiring medium -term ROTCE goal of 11-12% is simply not high enough for an Overweight recomandation in the short term.”

Citigroup has 200 employees in Ukraine, despite Russia’s war. This is a testament to its global status as the largest U.S. bank. She said that they are providing support to clients in the areas of payroll, supply chain and food.

“I don’t think anyone knows how much they can continue,” she stated.

Citigroup as well its clients continue to work together on unwinding their debts financial exposures tShe said, “Russia.”

She stated, “There is an enormous unwind going.”

This is a developing story. Keep checking back for more updates.

[ad_2]