Report published August 25, 2026
Citi Research: The Point for Europe – Daily Equity & Market Strategy (August 25, 2026)
Source and citation context
- Issuer
- Citi
- Report date
- August 25, 2026
- Analysis as of
- Not stated in source
Authors / editors: Ephrem Ravi, Shashi Shekhar, Krishan M Agarwal, Monique Pollard, Vandita Sood, Elizabeth Moore, Carl Murdock-Smith, Andrew Coombs, Simon Nellis, Borja Ramirez Segura, Shrey Srivastava, Filippo Falorni, David T Chew, Arkady Gevorkyan, Kenny Hu, Daniel Tobon
Finvaulta summarizes Citi's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Citi Research's daily European brief highlights an upgrade of Next PLC to Buy, initiation of DIGI Spain at Buy/High Risk, and an increase in the short-term gold price target to $4,800/oz. It also notes fading global equity positioning momentum amid bond market volatility.
Key Takeaways
- 1.Citi upgraded Next PLC (NXT) to Buy and reiterated Buy on Marks & Spencer, citing margin unlocking and strong food/fashion tailwinds.
- 2.Citi initiated coverage on DIGI Spain Telecom SA with a Buy/High Risk rating and an €8.30 target price, driven by market share gains and long-term owner-economics leverage.
- 3.Citi raised its 0-3 month Gold target to $4,800/oz (from $4,500/oz) and reiterated a $5,000/oz year-end target following US Treasury long-end buyback announcements.
Table of Contents
- Top Call
- Must Read
- Industry
- Strategy & Economics
- Commodities
- Fixed Income & FX
- Key Rating and Target Price Changes
- Appendix A-1
Report data
Key Rating and Target Price Changes
| Metric | Estimate | Context |
|---|---|---|
| DIGI Spain Mobile Market Share | 13% | DIGI Spain Telecom market share in Spanish mobile telecoms |
| DIGI Spain 2025-2028E Revenue CAGR | 14% | Forecast revenue CAGR for DIGI Spain |
| DIGI Spain 2025-2028E EBITDAaOL CAGR | 28% | Forecast EBITDAaOL CAGR for DIGI Spain |
| Gold 0-3m Target Price | 4800 $/oz | Raised from $4,500/oz spot target following US Treasury long-end buyback announcement |
| Gold 6-12m Target Price | 5000 $/oz | Reiterated year-end / 6-12m gold target price |
Reports in this series
The Point is shown in chronological order through this edition, published on August 25, 2026.
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Authors / Editors
Reported Data Context
- DIGI Spain Mobile Market Share: 13 % (Current (vs 11% a year ago))
- DIGI Spain 2025-2028E Revenue CAGR: 14 % (2025-2028E) · Source: Citi Research
- DIGI Spain 2025-2028E EBITDAaOL CAGR: 28 % (2025-2028E) · Source: Citi Research
- Gold 0-3m Target Price: 4800 $/oz (0-3m) · Source: Citi Research
- Gold 6-12m Target Price: 5000 $/oz (6-12m) · Source: Citi Research