Russia is replacing Citibank, which has stopping servicing the country’s Eurobonds, with its own National Settlement Depository, the finance ministry said on Thursday, as it risks its first major external debt default in over a century. Sanctions imposed by Western countries and their allies on Russia after it started what it calls a “special military…
Russia’s National Depository to Replace Citi as Eurobond Servicing Agent
June 2, 2022
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Analysts Cut Intel Price Target Post Q4 Results
Analysts slashed their price targets on Intel Corp. following lackluster Q1 guidance. Citi analyst Christopher Danely lowered the price target to $55 from $58 (13 percent upside) and reiterated a Neutral. The company reported a strong Q4 due to strength in PCs and servers but gave “very poor” guidance due to heavy investing, a 14-week quarter, and an inventory correction…
Read Why Citi Is Bullish on Marvell
Citi analyst Atif Malik raised the price target on Marvell Technology Inc. from $87 to $97 and reiterated a Buy. The price target implies a 15.4 percent upside on Marvell’s December 17 closing price of $84.03. The re-rating reflects his expectation for continued multiple expansion for cloud data center stocks like Marvell in 2022. The new multiple he applies…
Citi Sees 12.4 Percent Upside in This Semiconductor Company
Citi analyst Atif Malik raised the price target on Applied Materials Inc. to $175 from $160, implying 12.4 percent upside, and reiterated a Buy. The analyst updated his model to reflect the company’s balanced end-market mix and benefits from 3D devices. Applied Materials reported Q4 FY21 revenue of $6.12 billion, missing the consensus of $6.34…
Read Why Citi Slashed Twitter’s Price Target by 22 Percent
Citi analyst Jason Bazinet lowered the firm’s price target on Twitter Inc to $47 from $60, implying a 7 percent upside, and maintained a Neutral. The analyst reduced Twitter’s target multiple to align with the company’s peer group more closely. He believes the stock’s current valuation reflects much of the revenue and margin opportunity over…
Emerging Markets Face a ‘Double Whammy’ in 2022, Citi Says
December 1, 2021
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LONDON—Emerging markets will face a “double whammy” in 2022, caught between limited growth and reduced risk appetite as a result of monetary tightening, David Lubin, head of emerging markets economics at Citi, said on Wednesday. “EM growth will suffer for a variety of reasons to do with weakening external demand growth, lower global trade growth,…
Regulators Not up to Speed on Banks’ Digital Marketplaces, EU Watchdog Says
September 21, 2021
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LONDON—Regulators have little understanding of risks from banks creating digital marketplaces with tech companies and a framework is needed to spot potential contagion if things go wrong, the European Union’s banking watchdog said on Tuesday. The European Banking Authority’s warning is the latest sign that financial regulators are starting to pay more attention to Big…
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