Morgan Stanley analyst Manan Gosalia upgraded Citizens Financial (CFG) to Overweight from Equal Weight with a price target of $71, up from $53. The firm says Citizens is one of the “best profitability improvement stories” in the sector. The stock is also trading at a discount tp peers, with several positive catalysts coming over the next 12 months, the analyst tells investors in a research note. Morgan Stanley sees the bank’s return on tangible common equity improving from 11% in Q2 to 15% in 2027, closing the gap versus peers, and nearing its 16-18% target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CFG:
- Citizens Financial price target raised to $65 from $60 at Citi
- Citizens Financial decreased prime lending rate to 7.25% from 7.50%
- Citizens Financial price target raised to $57 from $55 at Evercore ISI
- ‘Time to Go Long on Bank Stocks’: Cantor Suggests 2 Names to Buy
- Cantor starts U.S. banks with ‘constructive view,’ names Citizens as top pick