# Wells Fargo analyst Mike Mayo says Citigroup is his top pick.

*fintech · news · 2026-04-15 · CNBC*

## Key points

- Wells Fargo's Mike Mayo raised Citigroup's price target to $160, suggesting 24% upside.
- Citigroup achieved 13.1% return on tangible common equity, surpassing its 10-11% target.
- 90% of Citigroup's restructuring is complete, leading to expectations of lower transformation costs.
- Citigroup has reduced global workforce by 10%, cutting about 20,000 jobs as part of its overhaul.
- First-quarter revenue of $24.63 billion beat consensus estimates by over $1 billion.

**Companies:** Citigroup
**Countries:** United States, Indonesia, Philippines, Poland, China

[Read the full story on CNBC](https://www.cnbc.com/2026/04/15/mike-mayo-says-citi-remains-his-top-pick-sees-restructuring-driving-stock-higher.html)

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