Citizens Financial price target raised to $46 from $41 at DA Davidson

DA Davidson raised the firm’s price target on Citizens Financial to $46 from $41 and keeps a Buy rating on the shares after its Q2 earnings beat. The firm had named the stock as its “top pick” ahead of the results based on its trading at a discount to peers and early stages of several initiatives to strengthen the balance sheet and increase the earnings power, leading to a higher ROE, the analyst tells investors in a research note. The firm adds that Citizens expects to return to positive operating leverage in Q4, accelerating in 2025 and beyond.