Wells Fargo raised the firm’s price target on Popular (BPOP) to $105 from $90 and keeps an Equal Weight rating on the shares as part of a broader research note on mid-cap banks. The firm is adjusting its price targets on the sector, reflecting the current environment, also noting that its valuation methodology is now favoring earnings while moving away from tangible book value.
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Read More on BPOP:
- Popular raises quarterly dividend to 70c from 62 per share
- Popular price target lowered to $96 from $108 at RBC Capital
- First BanCorp price target lowered to $21 from $22 at Piper Sandler
- Popular price target lowered to $100 from $112 at Piper Sandler
- Popular price target lowered to $98 from $105 at Wells Fargo