1 Reason I'm Watching Citigroup This Week
The wheels have fallen off Citigroup's (NYSE: C) stock since its disappointing investor day earlier this year, when management announced new medium-term financial targets that failed to impress the market.
Things have only gotten worse with Russia's invasion of Ukraine, complicating the bank's previous decision to sell its consumer banking division in Russia and increasing the chance the bank takes a big charge on divesting the operation. With Citigroup set to report earnings later this week, here's one thing I'll be watching closely.
With investor day now in the past and the bank's transformation looking like a multiyear journey, Citigroup doesn't have a lot of near-term catalysts ahead. There are rising interest rates, and an end to the conflict in Ukraine would certainly help as well.
Source Fool.com
