Citi’s New Profit Targets and 2 Hot Stocks to Watch

Citigroup (NYSE:C): Current price $44.59

The new Citigroup Chief executive Mike Corbat announced at an investor conference in Boston on Tuesday Citi’s profit targets for 2015, and also reported that the firm has identified a minimum of 21 markets where it must either make improvements or exit. Corbat said that the company intends to earn a return in 2015 of at least 10 percent on tangible common equity, versus the 7.9 percent posted in 2012. He also set a target of between 0.9 and 1.1 percent return on assets, compared with 0.62 percent earned last year, adjusted for certain items. To improve returns, Citigroup has targeted 21 markets worldwide where it must restructure, shrink or leave its operations.