Citizens Financial price target lowered to $43 from $49 at JPMorgan

JPMorgan lowered the firm’s price target on Citizens Financial (CFG) to $43 from $49 and keeps a Neutral rating on the shares as part of a Q1 earnings preview for the large-cap banks. The firm expects the tariffs announcement will increase concerns about the impact on the economy and pressure markets overall. Banks would be impacted with a fallout on investment banking, consumer spending, and loan growth plus wealth management, the analyst tells investors in a research note. JPMorgan points out consumer spending started to slow in Q1, which would impact economic growth, and inflation could rise with tariffs. It cut estimates, noting there is potential for further cuts based on the full impact of tariffs.