Jim Cramer Discusses Barclays’ Coverage of Citizens Financial (CFG)

We recently published 9 Stocks Jim Cramer Talked About.  Citizens Financial Group, Inc. (NYSE:CFG) is one of the stocks Jim Cramer talked about.

Citizens Financial Group, Inc. (NYSE:CFG) is one of the largest regional banks in America. Its shares are up by 36% over the past year. In late December, Truist raised Citizens Financial Group, Inc. (NYSE:CFG)’s share price target to $63 from $56 and kept a Hold rating on the shares. As part of its coverage, the financial firm pointed out that the bank’s effective cost management could serve it well. However, on Wednesday, Raymond James downgraded Citizens Financial Group, Inc. (NYSE:CFG)’s shares to Strong Buy from Outperform but bumped the share price target to $66 from $62. It cited strong share price performance behind the downgrade but remained optimistic about the bank’s long-term prospects. Raymond James’ coverage had followed an optimistic Barclays note about Citizens Financial Group, Inc. (NYSE:CFG). In it, Barclays bumped the share price target to $77 from $56 and the rating to Overweight. Some of the reasons Barclays shared for its optimism included net interest margin expansion and private bank buildout. Cramer called the upgrade an “oddity” and pointed to the share price performance:

“[On Barclays] That’s a, you know, little oddity there. The stock is up gigantically already.”

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Disclosure: None. This article is originally published at Insider Monkey.