Citizens Financial price target raised to $43 from $35 at RBC Capital

RBC Capital raised the firm’s price target on Citizens Financial to $43 from $35 and keeps an Outperform rating on the shares after its Q2 earnings beat. The company has come a long way from its IPO in 2014 and is now embarking on the next leg of its 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 analyst tells investors in a research note. Citizens will continue to drive its profitability and medium-term ROTCE target of 16%-18%, with higher levels of fee revenues led by its capital markets division, the firm added.