Citizens Financial price target raised to $48 from $46 at DA Davidson

DA Davidson raised the firm’s price target on Citizens Financial to $48 from $46 and keeps a Buy rating on the shares after its in-line Q3 results. The company’s net interest income exit rate was lower than expected, but its long-term fundamentals “still hold”, the analyst tells investors in a research note. Citizens offers “strong operating leverage” longer-term as the negative carry on swaps turns into a tailwind starting in Q4, the firm added.