Cantor Fitzgerald Upgrades Popular, Inc. (BPOP) to Buy; Shares Appear Over-Sold

Cantor Fitzgerald upgraded Popular, Inc. (NASDAQ: BPOP) to Buy with a price target of $2.25.

Cantor analyst said, "BPOP shares are down 52% since reporting 2Q:11 earnings (which were encouraging, in our view), versus the BKX bank index being down 21%. In the interim, Popular has held a well-received Analyst Day, and announced the sale of problem construction/CRE loans at book value. Lately, the price of BPOP shares appears to have stabilized. In our view, BPOP shares are over-sold, so we are raising our rating to BUY."

For more ratings news on Popular, Inc. click here and for the rating history of Popular, Inc. click here.

Shares of Popular, Inc. closed at $1.53 yesterday.

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