BofA analyst Ebrahim Poonawala raised the firm’s price target on Citizens Financial to $37 from $35 and keeps a Neutral rating on the shares after the company reported core EPS of 85c, in-line with the firm’s forecast and above the consensus forecast of 80c. The stock reacted positively to management’s update, which was likely influenced by short covering, and while the valuation is “undemanding,” this reflects Citizens’ “challenged ROTCE,” the analyst tells investors.
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