Merrill Lynch Rated Citigroup Stock As Buy

Citigroup has already been given a raised stock value by some prominent analysts of Merrill Lynch equity firm

When speaking of the banks currently operating in the United States, it will be seen that recently a lot of high end volatility was observed on the stock index right after a couple of new decisions were made by the Federal Reserve, which were to determine the way banks carried out their operations in the near future. The investors in the investment banks were keen to know how the changes will affect the banking system at large and it looks like Citigroup has already been given a raised stock value by some prominent analysts of Merrill Lynch equity firm.
Merrill Lynch analysts have been tracking down the changes that could be brought about by the changes in the interest rate getting raised by the government and it looks like things might just get better for Citigroup in the upcoming days, as analysts have suggested a raised price of around $65 to the Citigroup stock. This is majorly backed up by the positivity that was shown by the earnings that were released by the investment firm some time back. Furthermore, analysts also believe that for the book value of the stock, the value that should be considered should come around $60.
Citigroup bank has also managed to announce a revenue generation for the past quarter at $18.5 billion which did disappoint the investors for the obvious reasons that the revenue on a year over year basis fell by a huge 7% while the EPS remained at $1.42 for the quarter. However, there were some positives to be considered in the earnings call and it was most definitely the net income, which was reported at an increase of a colossal 23% as compared to the same quarter in the year before and was noted down at $4.2 billion. 
As for the more important things for the bank, the fact that Citigroup finance has worked out a successful plan of cutting down on costs and making its revenue generation still better is perfectly working out for the giant. The Merrill Lynch analysts also believe that the bank will soon be coming right up to the target of achieving its Return On Assets for the current year and when it does, it will still be in a better position than before and its stock price might also increase as well.
On a completely different side, the EPS targets for the next quarter have been lowered down by most of the analysts, where first it was $1.25 and after the amendments, it has now been made to $1.16.