Analysts Are Downgrading These 5 Stocks

02. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 79

Citigroup Inc. (NYSE:C) is an American investment banking company that provides services to over 200 million customers. On July 10, Societe Generale’s analyst, Andrew Lim, made the decision to downgrade Citigroup Inc. (NYSE:C) from a Buy rating to a Hold rating. As a result of this downgrade, Lim has also adjusted the price target for Citigroup Inc. (NYSE:C) to $50. The change in rating suggests that Lim no longer views Citigroup Inc. (NYSE:C) as a stock with significant upside potential. This decision was made in anticipation of the forthcoming publication of the Basel 4 rules, which are expected to introduce significantly stricter capital requirements for banks. The potential impact of these rules on the banks’ capital positions has prompted Societe Generale’s downgrade.