Financial Wire

Research Alert: Citigroup Inc. Outpaces Q1 2026 Earnings Expectation

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

Citigroup (C) reported a strong Q1 2026 earnings beat with adjusted EPS of $3.06 versus consensus estimate of $2.63 per share, or $1.96 a year ago. Total revenue of $24.6B exceeded consensus expectations, due to robust 14% Y/Y growth across all business segments. Net interest income increased 12% Y/Y, with notable gains in U.S. Personal Banking, Markets, Wealth, and Services segments, partly offset by declines in All Other and Banking segments. Total non-interest revenue surged 39% Y/Y, supported by strong gains across all businesses including Services, Markets, Banking, Wealth, and U.S. Consumer Cards. The broad-based revenue growth across multiple segments demonstrates the bank's diversified business model strength and operational effectiveness. Strong performance in both interest and non-interest income streams positions C well for continued positive momentum. The significant outperformance versus consensus expectations across key financial metrics reflects successful execution across the global franchise.

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Mining & Metals

RBC Expects "Resilient" Q1 Results From P&C Sector

RBC Capital Markets expects "resilient" first-quarter results from the property and casualty (P&C) insurance sector, but does not believes the results will be enough to change currently subdued investor sentiment on the sector.Analyst Bart Dziarski raised his price target on Fairfax Financial (FFH.TO) to US$2,261.00 from US$2,234.00 primarily reflecting the Poseidon transaction, and maintained an outperform rating. He believes the current valuation does not reflect the positive momentum in Fairfax's underwriting operations and investment portfolio."We expect Fairfax's underwriting results to remain strong in a favourable (albeit slowing) pricing environment where Fairfax has a historical track record of opportunistic growth. Fairfax's investment portfolio has been re-positioned to take advantage of the current interest rate environment driving improving investment results which we expect to continue," he wrote. Dziarski expects the P/B valuation discount vs. peers to narrow as Fairfax continues to consistently deliver solid operating results.As for the diversified financials sector, Dziarski remains cautious on goeasy (GSY.TO) and will look for updates on goeasy remediating issues within the LendCare portfolio, both regarding internal controls/financial reporting and charge-offs/loan losses. "We believe resolution of the foregoing is important for sentiment to improve."He is maintaining an underperform rating and $33.00 price target on goeasy. Dziarski does not expect management's 3-point action plan to take hold until 2028+ and sees downside risk to valuation as investors reassess the durability of book value and the company's ability to stabilize credit performance.Price: $2482.26, Change: $+25.42, Percent Change: +1.03%

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Australia

Top Midday Gainers

Nektar Therapeutics (NKTR) said Monday that data from a 16-week extension period of its phase 2b study of rezpegaldesleukin showed a "deepening of response" in patients with severe-to-very-severe alopecia areata.Wedbush Securities lifted its price target for Nektar Therapeutics' shares to $95 from $70 while maintaining the stock's neutral rating.Shares of Nektar jumped 22%, with intraday trading volume of nearly 3.4 million, up from a daily average of about 1.1 million.Compass Pathways (CMPS), GH Research (GHRS), and other psychedelic companies' shares were up on Monday, after US President Donald Trump signed an executive order Saturday to expedite access to treatments for patients with serious mental illness.Shares of Compass Pathways surged 49% as intraday trading volume soared to over 29 million from a daily average of about 3.05 million.GH Research shares advanced 14% as intraday trading volume jumped to over 953,700 from a daily average of roughly 192,000.Price: $103.50, Change: $+18.64, Percent Change: +21.97%

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Sectors

Sector Update: Financial

Financial stocks were mixed in Monday afternoon trading, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.2%.The Philadelphia Housing Index was rising 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.2%.Bitcoin (BTC-USD) was climbing 0.6% to $75,663, and the yield for 10-year US Treasuries was rising one basis point to 4.25%.In corporate news, Sila Realty Trust (SILA) agreed to be acquired and taken private by affiliates of Blue Owl Capital's (OWL) real estate unit in an all-cash deal worth roughly $2.4 billion. Sila shares jumped 19%, and Blue Owl was down 0.2%.

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