RBC Capital raised the firm’s price target on Citizens Financial (CFG) to $67 from $60 and keeps an Outperform rating on the shares. After the company’s solid Q4 results that featured continued progress on Citizens’ strategic initiatives, primarily regarding the growth of Citizens Private Bank, the firm expects the company to drive its profitability to its medium-term ROTCE target of 16%-18% with higher levels of fee revenues combined with adroit capital management, the analyst tells investors in a research note.
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