A rally in Citigroup Inc.'s shares lifted bank stocks overall Thursday.

Citi's shares rose 35 cents, to $4.48, after Richard Bove, a Rochdale Securities analyst, wrote in a note that investors are betting the value of Citi's shares will triple in three years, after the company unloads its troubled assets and becomes more profitable.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.