Wedbush Downgrades Citizens Financial Group (CFG) to Neutral

November 17, 2016 7:11 AM EST
Get Alerts CFG Hot Sheet
Price: $36.29 --0%

Rating Summary:
    11 Buy, 11 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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."

For an analyst ratings summary and ratings history on Citizens Financial Group click here. For more ratings news on Citizens Financial Group click here.

Shares of Citizens Financial Group closed at $30.73 yesterday.

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