Citizens Financial upgraded to Outperform from Neutral at Baird

Baird upgraded Citizens Financial (CFG) to Outperform from Neutral with an unchanged price target of $65. The firm believes the recent weakness in bank socks creates more attractive risk/reward trade-offs. There is a “margin of safety” in many regional banks at current prices, as capital is in good shape and credit trends are solid, the analyst tells investors in a research note. Baird believes now is a good time to add to or take positions in bank regionals. It upgraded three names and added a “Fresh Pick designation” on Huntington Bancshares.