Piper Sandler raises PT on Citigroup

Piper Sandler raises PT on U.S. bank Citigroup C.N to $130 from $120

New PT represents a 7.9% upside to the stock's last close

Brokerage cites higher bank‑sector valuations and raises its valuation multiple to 13× from 12×

Meanwhile, brokerage cuts EPS estimates to $7.20 for 2025 from $7.60 and to $9.83 from $9.93 for 2026

Piper also warns risk from prolonged slowdown in domestic or global economic activity, weakening credit quality and softer‑than‑expected capital markets volumes

Brokerage maintains "overweight" rating

19 of 23 brokerages rate the stock "buy" or higher and 4 hold; their median PT is $120.50 — data compiled by LSEG

As of last close, stock up 71.1% YTD