Highlights

  • JPMorgan and other brokerages recently raised price targets for CFG shares
  • Latest quarterly earnings exceeded consensus estimates, revenue met forecasts
  • Shares gained 12.46% over the past month amid broad analyst coverage

Citizens Financial Group Inc (NYSE:CFG) featured in recent analyst research after JPMorgan Chase & Co. raised its price target to $71.00 from $62.50, while maintaining an overweight rating, according to Benzinga. Other brokerages have also updated their coverage. Evercore increased its target to $77.00 and assigned an outperform rating. DA Davidson lifted its target to $73.00 with a buy rating. Royal Bank of Canada raised its target to $67.00 and rated CFG as outperform. Keefe, Bruyette & Woods set a $70.00 target with an outperform rating. Weiss Ratings lowered its rating from buy (B-) to hold (C+).

Stock Snapshot
Shares of Citizens Financial Group last closed at $67.70 on 9 February, up 12.46% over the past month. Based on JPMorgan’s $71.00 target, the potential upside is 4.60% from the current price. MarketBeat data indicates one Strong Buy rating, seventeen Buy ratings, and three Hold ratings among analysts, with a consensus rating of Moderate Buy and an average target of $68.77.

Quarterly earnings and financial metrics
Citizens Financial Group reported quarterly results on 21 January, posting EPS of $1.13, beating the $1.11 consensus estimate. Revenue for the quarter came in at $2.16 billion, matching analyst expectations. The net margin was 15.19% and return on equity was 7.89%. Revenue increased 8.6% compared to the same quarter last year, while EPS grew from $0.85 in the prior-year period. Analysts project 3.92 EPS for the current fiscal year.

Business operations and service profile
Citizens Financial Group is a bank holding company headquartered in Providence, Rhode Island. It provides banking and financial services to individuals, small and middle-market businesses, corporations, and institutional clients. Operations are conducted mainly through its primary banking subsidiary, Citizens Bank, with services delivered via branch locations, ATMs, and digital channels. Citizens Financial Group is publicly traded and operates under U.S. banking regulations.