Analysts expect Citigroup Inc. to highlight the performance of Chief Executive Vikram Pandit and his new management at its analyst and investor day scheduled Friday.
Pandit took the helm of the diversified financial-services company six months ago. Since then, he has replaced several key executives, sold off noncore assets and, according to Lehman Brothers analyst Jason Goldberg, conducted a thorough review of the company's businesses.
Goldberg said in a note to investors on Tuesday that he expects Pandit to provide more detail on its operating assets and differentiate between its stronger assets and lower-yield, noncore assets.
"We acknowledge a lot more work needs to be done and asset quality is deteriorating," Goldberg said. Goldberg rates the New York-based company "Overweight."
Similarly, Deutsche Bank analyst Mike Mayo said in a note he expects Citigroup to shed light on its financial goals.
"While many of the new managers seem talented, we feel that they face a tough task in terms of risks related to capital markets, lending, new equity, revenues, business model and management," he said.
Mayo maintained his "Sell" rating on Citigroup.
Citigroup closed at $24.30 on Wednesday.
Terms & Conditions
RSS Headlines
Fool UK