NEW YORK (TheStreet) -- Shares of Citigroup Inc (C) were gaining, up 1.26% to $54.76 in pre-market trading Monday, after analysts at Goldman Sachs upgraded the bank to "buy" from "neutral" earlier this morning.
The firm also hiked its price target to $61 from $57.
Goldman Sachs analysts cited an attractive risk/reward at current valuation levels, and noted that the stock has yet to reflect better CCAR results.
The firm added that Citi is cheaper than 96% of stocks in the S&P index on earnings while trading below book value.
Analysts see a low bar for Citigroup as the bank builds on its first quarter earnings progress.
New York City-based Citigroup is a financial services holding company engaged in providing financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.
Separately, TheStreet Ratings team rates CITIGROUP INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CITIGROUP INC (C) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, expanding profit margins, solid stock price performance and growth in earnings per share. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."