Citigroup (C) Stock Could Be 40% Below Fair Value After China Approval

Citigroup has delivered a very large 3 year share price gain, yet the key issue for anyone looking at the stock today is whether that move is backed by the returns the bank earns on its capital. With the price recently at US$120.62 and fresh news around new businesses and regulatory progress, the question is how much of those capital returns are already reflected in the valuation. Citigroup's share price return of about 245.8% over the past 3 years puts a lot of weight on the idea that its...