Despite an earlier call for heads to roll at Citigroup for failing the Federal Reserve's "stress test," CLSA bank analyst Mike Mayo said that Tuesday's annual shareholder meeting reassured him that the stock could head to $96 per share.
"I'd say I'm very happy seeing the chairman, Mike O'Neill, and the CEO, Mike Corbat, interact for two hours. This is a great working relationship, and I still think 'The Mike and Mike Show' can play on Broadway and in 100 countries. They're impressive thinkers," he said. "They just have to execute a little bit better. That was encouraging."
Mayo previously said that CFO John Gerspach needed to go after the bank flunked the Fed's annual Comprehensive Capital Analysis and Review.