FINANCE

Mike Mayo Predicts That Citigroup’s Stock Will Double

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Wells Fargo banking analyst Mike Mayo is starting 2024 with a bold call: Citigroup’s stock will more than double over the next three years.

Mayo is known for asking Citi tough questions. He’s grilled executives over their weak returns, high expenses, pay, and even their ATM cleanliness. It’s a long list.

Today, he says Citi is his top banking pick and in the midst of a turnaround. He put a $70 one-year target on the stock and said his base case is for $119 in 2026. Citi ended 2023 at $51.44.

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