BTIG Downgrades Popular, Inc. (BPOP) to Neutral
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BTIG downgraded Popular, Inc. (NASDAQ: BPOP) from Buy to Neutral and removed its price target. Analyst Mark Palmer sees shares as fully valued.
"We are downgrading Popular, Inc. (BPOP) to Neutral (from Buy) and removing our price target of $41following the achievement of that level. We continue to be impressed with the resilience of BPOP’s operating performance, particularly with regard to its credit quality, in light of the ongoing economic struggles of its primary market in Puerto Rico. However, the company’s shares have appreciated by almost 83% since January 25, leaving them much closer to fairly valued, in our view," said the analyst.
Shares of Popular, Inc. closed at $41.49 yesterday.
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