visimoney
TLDR:
Citizens Financial Group Inc. has received an upgrade to “buy” from Citi analyst Keith Horowitz, following last week’s sell-off in the regional-banking sector. Despite the upgrade, Citizens Financial Group’s stock dropped by 1.6% on Monday. Horowitz believes that the market has overreacted to credit concerns, creating an attractive entry point for investors. He also noted that the bank has increased its reserves for office space and may release reserves in 2024, which could be a positive catalyst for the stock. Horowitz has set a target price of $36 per share for the stock.
Key Points:
- Citizens Financial Group upgraded to “buy” from “hold” by Citi analyst Keith Horowitz.
- Stock dropped 1.6% despite the upgrade.
- Horowitz believes the market has overreacted to credit concerns.
- The bank has increased reserves for office space and may release reserves in 2024.
- Horowitz reiterates a “buy” rating on M&T Bank and believes recent price action has created attractive entry points for investors.
TLDR:
Citizens Financial Group Inc. has received an upgrade to “buy” from Citi analyst Keith Horowitz, following last week’s sell-off in the regional-banking sector. Despite the upgrade, Citizens Financial Group’s stock dropped by 1.6% on Monday. Horowitz believes that the market has overreacted to credit concerns, creating an attractive entry point for investors. He also noted that the bank has increased its reserves for office space and may release reserves in 2024, which could be a positive catalyst for the stock. Horowitz has set a target price of $36 per share for the stock.
Key Points:
- Citizens Financial Group upgraded to “buy” from “hold” by Citi analyst Keith Horowitz.
- Stock dropped 1.6% despite the upgrade.
- Horowitz believes the market has overreacted to credit concerns.
- The bank has increased reserves for office space and may release reserves in 2024.
- Horowitz reiterates a “buy” rating on M&T Bank and believes recent price action has created attractive entry points for investors.
