Citigroup rises as J.P. Morgan upgrades to 'overweight'

Shares of Citigroup C.N rise 1.4% to $113.47 in trading before the bell

J.P. Morgan upgrades Citi to "overweight" from "neutral," citing improvement in profitability over time

The brokerage expects Citi to benefit in 2026 from a firm economic backdrop and strong markets activity, helped by its concentrated revenue base

J.P. Morgan expects these factors to contribute in the increase in RoTCE over time, more than peers

The measure of how well the bank uses capital to generate profit is known as RoTCE - return on tangible common equity - and is a key metric of profitability in the banking sector

Nineteen of 23 brokerages rate the stock "buy" or higher and 4 "hold"; their median PT is $116.50 - LSEG

As of last close, shares of the bank have gained nearly 59% YTD, outperforming the broader index