Cantor Fitzgerald Cuts Price Target on Doral Financial (DRL)

Cantor Fitzgerald is maintaining its Hold rating on shares of Doral Financial (NYSE: DRL) while lowering its price target from $1.75 to $1.50 to reflect a lower valuation on its peers.

An analyst at the firm comments, "In our view, Doral missed possibly its only growth opportunity when it failed to win an FDIC-assisted deal, and we regard the best remaining option as a sale (to realize the value of its large Puerto Rico tax benefits). We do not expect a sale, however, until a buyer can be found. See "Implications of First BanCorp Recap" below."

For 2011 and 2012, Cantor Fitzgerald estimates EPS of $0.00 and $0.18.

For more ratings news on Doral Financial click here and for the rating history of Doral Financial click here.

Shares of Doral Financial closed at $1.30 yesterday.

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