Wells Fargo gets more constructive on Citigroup, saying it expects the bank’s shares to double to $100+ over three years and calling the stock its top large-cap bank pick for 2024 and a signature pick. In a research note, Wells says Citi’s management delayering, exit from 14 non-US consumer markets and transition from dozens of universal banks to five lines of business should make the bank more simple and profitable. Wells says it expects Citi’s EPS will double from an estimated $5 in 2023 to $10 in 2026, driven by efficiency, stock buybacks and revenue growth. Wells, with an overweight rating on Citi shares, lifts its one-year price target on the stock to $70 from $60.