NEW YORK (TheStreet) -- Shares of Citigroup Inc (C) were sliding, down 1.38% to $56.60 in early market trading Wednesday, after analysts at Deutsche Bank downgraded the company to "hold" from "buy" this morning, following its strong share performance.
Deutsche Bank analysts set a $56 price target on Citi, and cited a valuation call for the rating cut.
The firm noted that Citigroup stock has risen about 21% since January.
Analysts see less near term upside with fixed income trading entering a weak period.
Deutsche also downgraded shares of Goldman Sachs (GS) this morning for the same reasons.
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 some important positives, 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."
Highlights from the analysis by TheStreet Ratings Team goes as follows: