New Street analyst Jonathan Weiss upgraded Citizens Financial Group’s outlook by assigning a price target of $73, implying an upside of approximately 11.6% from recent trading levels. The revision reflects New Street’s confidence in CFG’s ability to sustain net interest margin expansion and diversify non-interest revenue streams. Weiss highlighted CFG’s disciplined balance sheet management and growing deposit base as key drivers underpinning the upgrade.

In the fourth quarter, CFG reported earnings per share of $1.13, exceeding the consensus estimate of $1.11 and representing a year-over-year increase of 32.9%. Net interest income growth was supported by higher loan and deposit balances, while non-interest income outperformance benefited from advisory fees in Capital Markets. On a GAAP basis, net income reached $528 million, up 31.6% from the prior-year quarter, underscoring the effectiveness of cost controls and margin optimization initiatives.

Quarterly revenue totaled $2.157 billion, narrowly above the expected $2.156 billion, driven by double-digit fee growth in Capital Markets and Wealth Management. CFG achieved positive operating leverage of 5% year-over-year, reflecting disciplined expense management. Credit costs continued to trend favorably, and the company returned 80% of distributable capital to shareholders through dividends and buybacks. The Private Bank division added $14.5 billion in year-end deposits, contributing a 7% accretion to earnings and delivering a 25% return on equity.