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Investing.com - Truist Securities raised its price target on Citizens Financial Group (NYSE:CFG) to $52.00 from $43.00 on Monday, while maintaining a Hold rating on the stock. The bank, currently trading at $48.72 with a market capitalization of $21.12 billion, has shown strong momentum with a 13.25% gain year-to-date. According to InvestingPro data, seven analysts have recently revised their earnings estimates upward for the upcoming period.
The price target increase represents a 21% upside from the previous target, with Truist citing the bank’s second-quarter earnings beat and positive third-quarter guidance as key factors in the decision.
Truist raised its 2025 earnings per share estimate by 1% to $3.80 while keeping its 2026 estimate unchanged at $5.05, noting that Citizens Financial Group had broadly maintained its full-year guidance for 2025.
The firm’s analysts indicated they are slightly adjusting fee projections upward and provisions downward, though these adjustments remain within the ranges provided by the company in its guidance.
Truist’s new price target is based on a 10.5x multiple applied to its maintained 2026 earnings per share estimate of $5.05, despite the significant target increase, the firm has chosen to keep its Hold rating on Citizens Financial Group shares.
In other recent news, Citizens Financial Group reported its second-quarter earnings for 2025, surpassing Wall Street expectations with an earnings per share of $0.92 against a forecast of $0.88, and revenue of $2.04 billion compared to the expected $2.01 billion. The company demonstrated strong net interest income and fee income, which contributed to this earnings beat. Additionally, DA Davidson raised its price target for Citizens Financial Group to $55 from $49, citing strong second-quarter results and a positive update for the third quarter. Evercore ISI upgraded Citizens Financial Group from In Line to Outperform, raising its price target to $55 from $48, based on expectations of strengthening balance sheet trends and favorable net interest margin dynamics. Citi also raised its price target on Citizens Financial Group to $60 from $57, maintaining a Buy rating on the stock. These analyst upgrades reflect confidence in the bank’s strategic initiatives and potential for long-term returns. The bank continues to focus on expanding its product offerings and technological innovations, maintaining its full-year guidance for 2025.
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