Finance

Citigroup Briefly Displaced as Least-Loved Big Bank Stock

HSBC upgraded Citi on Monday, then BMO cut the firm on Tuesday
Morgan Stanley was briefly the least-loved big bank stock

Citigroup Inc. signage on floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, Jan. 2, 2023. US stocks are likely to take a breather from their rapid gains before a potential fresh catalyst arrives in the form of the next earnings season, according to Oppenheimer Asset Management.Photographer: Michael Nagle/Bloomberg

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By Bre Bradham

January 9, 2024 at 5:31 PM UTC

Updated on

January 9, 2024 at 10:40 PM UTC

This article is for subscribers only.

Citigroup Inc. briefly shed its standing as the least-loved big bank stock on Wall Street, pushing Morgan Stanley to the bottom of the pile. Then another analyst chimed in.

Citigroup, helmed by Jane Fraser, had held the lowest consensus rating among the six biggest US banks since May 2022, data compiled by Bloomberg show. That changed this week when an analyst at HSBC Holdings Plc shuffled his recommendations — upgrading Citigroup and lowering Morgan Stanley.