Piper Sandler downgraded Citizens Financial to Neutral from Overweight with a price target of $26, down from $29. The analyst still believes “strongly” in the bank’s model, management team, and long-term prospects. However, with “myriad moving parts,” the potential to outperform seems further out than Piper would like, the analyst tells investors in a research note. The firm says Citizens Financial is “very much a story in transition.”
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