Wedbush Downgrades Citizens Financial Group (CFG) to Neutral
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Wedbush downgraded Citizens Financial Group (NYSE: CFG) from Outperform to Neutral with a price target of $31.00 (from $30.00).
Analyst Peter Winter commented, "We are downgrading CFG based on valuation as fundamentals remain strong and the company is well positioned to benefit from Trump tailwinds, including potentially higher interest rates, improved loan growth, lower corporate taxes, and any potential regulatory relief. We are raising our price target to $31 (was $30); however with the recent move in the stock price since election day there is less than 1% upside to our price target. Furthermore, CFG has gone from trading at a discount to its regional bank peers to in-line with the peer group."
Shares of Citizens Financial Group closed at $30.73 yesterday.
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