Street View: Citigroup to benefit from better regulatory backdrop

** Citigroup C.N beat Wall Street estimates for first-quarter profit on Tuesday and moved closer to its profitability target as its traders reaped a windfall from volatile markets that fueled client activity.

** Average recommendation of 21 brokerages is "buy", median PT is $85 - data compiled by LSEG

THE STARS ARE ALIGNED

** BofA Global Research ("buy," PO: $89) believes Citi will benefit from a more balanced regulatory environment, which will help with faster share buybacks and better management of investment spending

** KBW ("outperform," PT: $92) says a potential decrease in regulations could reduce some control and procedure risk for co, but also provide significant capital relief

** Oppenheimer ("outperform," PT: $91) says Citi is more affected by a recession than its peers due to its focus on cards

** RBC Capital Markets ("outperform," PT: $78) says co needs to focus on revenue growth and strict expense management

** While the goals seem reasonable and achievable, the key factor will be how well Citigroup executes its plans, adds RBC