Citigroup
Upgrade grade
C
Downgrade grade
B
Citigroup traces its origins back to the First National City Bank, founded in 1812, though it took its current form following the 1998 merger of Citicorp and Travelers Group, creating a financial powerhouse that quickly became synonymous with global banking prominence. As one of the largest financial institutions in the world with operations spanning more than 160 countries, Citigroup commands significant influence in equity research through its extensive analyst network that has generated over 20,000 ratings calls on US equities in our database. The firm's research coverage spans virtually every major sector, though it has built particular strength in financial services, technology, healthcare, and energy, leveraging its relationships across its sprawling institutional banking business to maintain deep access to corporate management. What distinguishes Citigroup's research culture is its integration with one of Wall Street's most active trading platforms, giving its analysts real-time market feedback and allowing them to rapidly synthesize client trading activity into actionable insights, an advantage that has made Citi research both influential and closely watched by quantitative investors seeking edge in execution and timing.
Upgrades
1,470
72.11% win rate
· avg +2.31% D1
Downgrades
1,534
74.19% win rate
· avg -2.82% D1
Avg Gap — Upgrades
+2.16%
open vs prev close
Avg Gap — Downgrades
-2.73%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Financial Services | 71.63% (215) | +1.60% | 69.41% (219) | -1.46% |
| Consumer Cyclical | 72.25% (191) | +2.73% | 70.27% (222) | -2.33% |
| Healthcare | 76.76% (185) | +3.98% | 79.60% (201) | -5.64% |
| Technology | 79.55% (176) | +2.56% | 74.49% (196) | -3.88% |
| Energy | 65.67% (134) | +1.30% | 71.62% (148) | -1.86% |
| Basic Materials | 68.75% (128) | +1.97% | 76.43% (140) | -2.22% |
| Industrials | 69.53% (128) | +1.55% | 69.37% (111) | -2.02% |
| Communication Services | 72.73% (88) | +3.80% | 87.50% (96) | -4.24% |
| Consumer Defensive | 78.41% (88) | +1.88% | 81.71% (82) | -2.99% |
| Real Estate | 61.63% (86) | +0.98% | 70.37% (81) | -0.59% |
| Utilities | 72.73% (44) | +2.79% | 66.67% (33) | -1.91% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2026 | 72.0% | 93 | 77.8% | 108 |
| 2025 | 69.6% | 158 | 75.6% | 131 |
| 2024 | 71.3% | 122 | 76.3% | 139 |
| 2023 | 69.4% | 111 | 75.5% | 110 |
| 2022 | 65.8% | 73 | 77.2% | 127 |
| 2021 | 81.4% | 102 | 82.5% | 80 |
| 2020 | 70.9% | 151 | 60.5% | 114 |
| 2019 | 75.2% | 105 | 73.9% | 138 |
| 2018 | 67.5% | 117 | 78.8% | 85 |
| 2017 | 75.3% | 93 | 77.0% | 87 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| Oct 1, 2026 | RKLB | Rocket Lab USA, Inc. | Industrials | Initiates | Buy | $105 | +3.8% | +1.1% |
| Sep 30, 2026 | TNDM | Tandem Diabetes Care, Inc. | Healthcare | Reiterates | Neutral | $20 | +0.4% | -1.6% |
| Sep 30, 2026 | NUVB | Nuvation Bio Inc. | Healthcare | Initiates | Buy | $12 | +3.4% | -0.4% |
| Sep 30, 2026 | JAZZ | Jazz Pharmaceuticals plc | Healthcare | Initiates | Buy | $325 | -0.3% | -0.4% |
| Sep 30, 2026 | MRNA | Moderna, Inc. | Healthcare | Downgrade | Neutral → Sell | $80 | -8.3% | -5.4% |
| Sep 30, 2026 | LYB | LyondellBasell Industries N.V. | Basic Materials | Downgrade | Buy → Neutral | $63 | -0.5% | -1.2% |
| Sep 30, 2026 | DOW | Dow Inc. | Basic Materials | Downgrade | Buy → Neutral | $30 | -0.5% | -0.3% |
| Sep 29, 2026 | RDY | Dr. Reddy's Laboratories Limited | Healthcare | Upgrade | Sell → Buy | — | +3.2% | +2.7% |
| Sep 28, 2026 | JHX | James Hardie Industries plc | Basic Materials | Downgrade | Buy → Neutral | — | -3.1% | -2.7% |
| Sep 24, 2026 | PEP | PepsiCo, Inc. | Consumer Defensive | Reiterates | Neutral | $142 | +0.6% | -1.6% |
| Sep 24, 2026 | VSNT | Versant Media Group, Inc. Class A | Industrials | Initiates | Buy | $41 | +0.5% | +1.4% |
| Sep 24, 2026 | DBX | Dropbox, Inc. | Technology | Downgrade | Neutral → Sell | $29 | -3.3% | -4.6% |
| Sep 24, 2026 | ARCT | Arcturus Therapeutics Holdings Inc. | Healthcare | Upgrade | Neutral → Buy | $20 | +4.8% | +6.2% |
| Sep 23, 2026 | MAZE | Maze Therapeutics, Inc. | Healthcare | Initiates | Buy | $50 | -0.3% | -1.0% |
| Sep 23, 2026 | MDGL | Madrigal Pharmaceuticals, Inc. | Healthcare | Initiates | Buy | $725 | +0.8% | -1.1% |
| Sep 22, 2026 | STZ | Constellation Brands, Inc. | Consumer Defensive | Reiterates | Buy | $165 | +1.0% | -0.7% |
| Sep 22, 2026 | FITB | Fifth Third Bancorp | Financial Services | Upgrade | Neutral → Buy | $62 | +0.9% | -1.0% |
| Sep 21, 2026 | AON | Aon plc | Financial Services | Reiterates | Buy | $435 | +0.5% | -1.6% |
| Sep 18, 2026 | STUB | StubHub Holdings, Inc. | Technology | Upgrade | Neutral → Buy | $7 | +7.7% | -0.3% |
| Sep 17, 2026 | MCD | McDonald's Corporation | Consumer Cyclical | Reiterates | Buy | $310 | +0.7% | -0.0% |
| Sep 17, 2026 | BSX | Boston Scientific Corporation | Healthcare | Downgrade | Buy → Neutral | $50 | -1.0% | -0.8% |
| Sep 17, 2026 | HAE | Haemonetics Corporation | Healthcare | Upgrade | Neutral → Buy | $123 | +2.0% | +1.3% |
| Sep 15, 2026 | FCEL | FuelCell Energy, Inc. | Industrials | Initiates | Neutral | $19 | -0.6% | -0.2% |
| Sep 14, 2026 | LYNX | — | — | Initiates | Buy | $19 | -0.3% | +5.7% |
| Sep 8, 2026 | ARWR | Arrowhead Pharmaceuticals, Inc. | Healthcare | Initiates | Buy | $108 | -2.5% | -1.4% |