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Citigroup: Wells Fargo raises its price target

( - Wells Fargo has reaffirmed its 'overweight' recommendation on Citigroup, with a price target raised from $60 to $70, and expects the share price to double to over $100 over three years.

Pointing to the Fed's new clarity on rates, and seeing the transformations within the banking group making it "simpler and more profitable", the broker estimates that EPS could rise from five to 10 dollars over the 2023-26 period.

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