Citigroup set to benefit from tariffs amid market uncertainty
- Wells Fargo reiterates an overweight rating for Citigroup stock with a price target of $110.
- Analyst Mike Mayo believes Citigroup is well positioned amid the uncertainties from presidential tariffs.
- Investors are encouraged to 'buy the chaos' as Citigroup shifts towards value creation.
On March 17, 2025, analysts at Wells Fargo expressed optimism regarding Citigroup's prospects amidst ongoing market turbulence caused by President Donald Trump's tariffs. Despite fears among investors, analyst Mike Mayo reiterated an overweight rating for Citigroup, declaring it a top pick and suggesting a substantial price target of $110 that indicates nearly 60% upside from its current valuation. Mayo emphasized that Citigroup is strategically positioned to manage the potential negative impacts of tariffs, building on its successful navigation of earlier trade duties during Trump's administration. He noted that the company's global intermediary role across various regions could lead to favorable outcomes as the tariffs are implemented. Furthermore, Mayo highlighted that the bank’s stock is currently trading at a discount relative to its tangible assets, adding to its attractiveness for investors. He encouraged them to