Goldman Sachs Starts City National (CYN) at Neutral
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Price: $1.06 --0%
Rating Summary:
8 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 10 | New: 23
Rating Summary:
8 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 10 | New: 23
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Goldman Sachs initiates coverage on City National (NYSE: CYN) with a Neutral. PT $62.00.
Analyst Ryan M. Nash said, "We view CYN as among the banks best positioned for rising rates given its asset sensitivity (we see $7-plus in that environment). Absent this, we see near-term headwinds of (1) increased competition in C&I, (2) limited funding levers, and (3) accretion roll-off weighing on its margin. Above-peer loan growth should offset some of the downside and an ability to acquire accretively could provide an EPS lever in an extended low rate environment."
For an analyst ratings summary and ratings history on City National click here. For more ratings news on City National click here.
Shares of City National closed at $57.19 yesterday.
Analyst Ryan M. Nash said, "We view CYN as among the banks best positioned for rising rates given its asset sensitivity (we see $7-plus in that environment). Absent this, we see near-term headwinds of (1) increased competition in C&I, (2) limited funding levers, and (3) accretion roll-off weighing on its margin. Above-peer loan growth should offset some of the downside and an ability to acquire accretively could provide an EPS lever in an extended low rate environment."
For an analyst ratings summary and ratings history on City National click here. For more ratings news on City National click here.
Shares of City National closed at $57.19 yesterday.
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