Piper Sandler upgraded Citizens Financial to Overweight from Neutral with a price target of $41, up from $35. Post the Q1 report, the analyst feels more comfortable with Citizens’ near-term net interest income progression. The firm also likes the bank’s longer-term opportunity, believing its “solid” capital base provides optionality to support earnings should loan growth not pan out as hoped. Piper considers the stock’s valuation “very attractive” at current levels.
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