Morgan Stanley raised its price target for Citigroup Inc. to $164 from $154. The firm maintained its Overweight rating on the stock.
The revision follows a rise in stock futures driven by cooling U.S.-Iran tensions. FactSet data indicates an average analyst rating of buy for the bank.
The consensus mean price target for Citigroup currently stands at $150.30. Morgan Stanley’s updated valuation sits at the high end of market expectations.