Investment bank TD Cowen lowered Citigroup's target share price from $150 to $148, Jefferies lowered Citigroup's target share price from $160 to $155, and the Royal Bank of Canada lowered Citigroup's target price from $150 to $135. Citigroup's earnings report on Tuesday showed that the bond, foreign exchange and commodity trading business achieved revenue of 4.4 billion US dollars, higher than analysts' average expectations of 4.3 billion US dollars. At the same time, its service business performance is also outstanding. The business helped companies and governments transfer and manage funds, and revenue increased 15% year over year to $6.6 billion. Despite this, due to executives' cautious attitude about the speed of stock repurchases and the level of return throughout the year, Citibank's stock price eventually recorded its worst daily earnings performance in more than five years. Citi management also said that due to seasonal trends, market business revenue may weaken in the fourth quarter. By Tuesday's close, Citigroup's stock price was down 5.6% to $124.54.

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