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Citigroup: And The Beat Goes On

October 15, 2018

Summary: 

- Citigroup reported Q3 2018 results that beat on the bottom line but that missed the top-line estimate. However, I believe that the revenue growth concerns are overblown.

- This bank has significantly grown its earnings over the last three years, and investors should expect more of the same in the quarters/years ahead.

- I am long Citigroup and I may add to my position on any upcoming pullbacks.

 

Citigroup ($C) has been a core position in the R.I.P. Portfolio for several years now and it is a company that I am very bullish about. However, it has been painful to watch the stock underperform the broader market over the last 52 weeks.

 

C shares have also underperformed the S&P 500 so far in 2018, but in my opinion, Citigroup's most recent operating results show that the bull case is still intact. As such, I believe that investors with a time horizon longer than two-to-three years should stay long Citigroup.

 

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