Deutsche Bank Upgrades First Republic Bank (FRC) to Buy

January 4, 2013 8:56 AM EST Send to a Friend
Get Alerts FRC Hot Sheet
Price: $57.37 -0.16%

Rating Summary:
    12 Buy, 10 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 26 | New: 22
Trade FRC Now!
Join SI Premium – FREE
Deutsche Bank upgraded First Republic Bank (NYSE: FRC) from Hold to Buy with a price target of $38.00 (from $37.00).

The firm comments, "We expect core EPS growth ~2x the industry in 2013/2014 to support premium trading multiples and share upside, reflecting (1) solid operating leverage by mid 2013, (2) above-peer balance sheet/AUM growth, offsetting NIM headwinds, (3) a materially smaller private equity ownership overhang, (4) the potential for increasing take-out premium over time, and (5) an attractive, high quality, high net worth customer base with strong long-term growth potential."

For an analyst ratings summary and ratings history on First Republic Bank click here. For more ratings news on First Republic Bank click here.

Shares of First Republic Bank closed at $33.69 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst PT Change, Upgrades

Related Entities

Deutsche Bank

Add Your Comment