Analysts Are Downgrading These 5 Stocks

In this article, we discuss the 5 stocks receiving downgrades from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Downgrading These 10 Stocks.

05. Citizens Financial Group, Inc. (NYSE:CFG)

Number of Hedge Fund Holders: 45

Citizens Financial Group, Inc. (NYSE:CFG) reported lower-than-expected earnings in the first quarter due to a decline in deposits and higher provisions for bad loans. The bank also lowered its outlook for net interest income, a measure of earnings from lending, from 11% to 14% forecasted in January to a range of 5% to 7% for the year.

Citizens Financial Group, Inc. (NYSE:CFG) has been downgraded by BofA from Buy to Neutral on April 20, with a new price target of $33, down from $37, due to the company’s updated FY23 NII guidance, which failed to meet expectations. The firm does not expect the stock to sustain outperformance, despite any potential support from valuation, and believes better risk/reward opportunities are available elsewhere in the group, according to the analyst’s note to investors.