Citizens Financial price target lowered to $37 from $40 at DA Davidson

DA Davidson analyst Peter Winter lowered the firm’s price target on Citizens Financial to $37 from $40 but keeps a Buy rating on the shares after its Q1 earnings miss. The company maintained capital levels at upper end of peers, but this was overshadowed by significantly more pressure on net interest income than forecast, the analyst tells investors in a research note. DA Davidson adds however that while deposits outflows were slightly more than expected at Citizens Financial, deposit trends were stable in March and April.