Citizens Financial initiated with Buy, named Top Pick at DA Davidson

DA Davidson analyst Peter Winter initiated coverage of Citizens Financial with a Buy rating and $47 price target and also designates the stock as his Top Pick. The analyst is positive on the company’s "low valuation" while noting that the fears around credit risk, deposit betas and integration risk with its latest acquisitions are overdone. Citizens Financial has "consistently executed" on its strategy and invested in the franchise to expand product offerings and services, the analyst tells investors in a research note, adding that the bank has also been "very effective" controlling expenses while self-funding revenue initiatives.