pointed out in a recent research report, Citigroup is sensitive to assets, meaning net interest revenue will steadily rise throughout the monetary tightening period."Higher net interest revenue levels that are generated through rising interest rates fall right to the"bottom line" and can have a meaningful impact on EPS, in our view," he said.longer-term prospects.
These observations made Cassidy reiterate a Buy rating on the C stock reflecting his long-term bullishness. His short-term concerns were factored into the price target, which he slashed from $65 to $60. Now, Manaker recalled that PSA has a bond of $500 million maturing this year. Moreover, according to the guidance provided by the company, $1 billion is the budget for acquisitions for FY22. The above assumptions and calculations done by Manaker deduced that PSA may not even have to raise any additional capital to repay its bond and make the acquisitions. This is good news in times of high interest rates.
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