Wedbush Starts Citizens Financial Group (CFG) at Outperform

October 7, 2016 6:48 AM EDT
Get Alerts CFG Hot Sheet
Price: $26.35 --0%

Rating Summary:
    16 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 5 | Down: 3 | New: 10
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Wedbush initiates coverage on Citizens Financial Group (NYSE: CFG) with a Outperform rating and a price target of $29.00.

Analyst Peter Winter commented, "CFG is our top turnaround story. CFG has been generating positive operating leverage at a faster pace than peers, which is driving improvement in key metrics like ROA, ROE and efficiency ratio. Importantly, we expect these trends to continue as we are forecasting above-average EPS growth in 2017 and 2018 at 12% and 11%, respectively vs. the regional bank peers at 5% and 9%. Importantly, although CFG is very asset sensitive, the stock is more than just a rate play as growth has been driven organically."

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 $25.69 yesterday.

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