Bank of America Securities analyst Ebrahim Poonawala reiterated a Buy rating on Citizens Financial yesterday and set a price target of $65.00.
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Ebrahim Poonawala has given his Buy rating due to a combination of factors including Citizens Financial’s strong financial performance and promising growth prospects. The company reported a third-quarter core EPS of $1.05, surpassing both Bank of America and consensus estimates. This outperformance was largely driven by robust fee income and near-record capital markets revenue, indicating a healthy financial position.
Moreover, Poonawala highlights Citizens Financial’s compelling valuation and potential for return on tangible common equity (ROTCE) improvement. With shares trading at a discounted price compared to regional peers, and management’s reiterated goal of achieving a 16-18% ROTCE over time, the stock presents an attractive risk/reward profile. Additionally, the company’s net interest margin outlook remains resilient despite lower rates, further supporting the Buy rating.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $57.00 price target.
CFG’s price has also changed dramatically for the past six months – from $36.100 to $51.700, which is a 43.21% increase.