Gillian Tan, Columnist

Citi's Path to $100 a Share Won't Be Easy

It's possible, but a lot of things have to go right for it to meet profit goals.

July 25, 2017 at 5:27 PM UTC

Gillian Tan is a senior reporter covering finance and alternative asset classes including real estate, infrastructure, private equity, private credit, venture capital and sports business. She previously wrote an opinion column for Bloomberg and was a reporter at the Wall Street Journal. She is a qualified chartered accountant.

1500987434_citi — Photographer: Christopher Dilts/Bloomberg

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Citigroup Inc. is once again ready for its close-up.

The New York bank on Tuesday hosted its first investor day in more than nine (nine!!) years. Management stepped up to the task of convincing investors that the bank is no longer a turnaround story, pushing instead the idea that it's on a growth trajectory. A more than 3 percent pop in its stock suggests shareholders are buying into the hype that the lender has -- in CEO Michael Corbat's words -- "passed an inflection point" and can deliver on revamped targets which could propel shares as high as $100 by 2020. (The stock's at about $68 now.)