FILE PHOTO: The Citigroup Inc (Citi) logo is displayed at the SIBOS Banking and Finance Conference in Toronto, Ontario, Canada on October 19, 2017. REUTERS / Chris Helgren
October 8, 2020
BOSTON (Reuters) – ValueAct Capital Management, a long-time investor in Citigroup Inc, named the company the best institutional bank in the world positioned for growth and said its share price could double in the short term.
“The upward trend is very compelling,” said Mason Morfit, Chief Executive Officer and Chief Investment Officer of ValueAct, at the 13D Monitor Conference Thursday about Citi, which has owned his company since 2018.
He predicted that the share price, currently trading at $ 44.91, could rise to $ 80 in the short term and continue to rise over time to reach $ 150.
(Reporting by Svea Herbst-Bayliss; Editing by Chris Reese)
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