10:44 AM EDT, 07/16/2025 (MT Newswires) -- Citigroup ( C ) is increasingly likely to achieve its 2026 target for return on tangible common equity, or ROTCE, given the company's H1 numbers, Oppenheimer said in a note Wednesday.

The company reported a strong Q2 beat on Tuesday, with a net income of $1.96 per diluted share and revenue of $21.67 billion.

Oppenheimer noted that Citigroup ( C ) expects to hit the upper range of its 2025 revenue guidance of $83 billion to $84 billion, and management has expressed confidence in achieving the 2026 ROTCE outlook of 10% to 11%.

"The momentum across the segments seems genuine," said the investment firm, noting gains across Citigroup's ( C ) segments. However, the recent quarter's excellent trading results shouldn't be "extrapolated," Oppenheimer added.

Oppenheimer raised its price target on Citigroup ( C ) to $123 from $107, while maintaining its outperform rating.

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