RBC Capital raised the firm’s price target on Citizens Financial to $35 from $33 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company should continue to drive its profitability with higher levels of fee revenues combined with adroit management of its capital, the analyst tells investors in a research note. Citizens is embarking on the next leg of its profitability “journey” with the successful consummation of the acquisitions of HSBC and ISBC and the expansion into Private Banking with the creation of Citizens Private Bank, the firm added.
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