UPDATE: RBC Capital Starts Webster Financial (WBS) at Outperform

(updating comment)

RBC Capital analyst Steven Duong initiates coverage on Webster Financial (NYSE: WBS) with a Outperform rating and a price target of $37.00.

The analyst comments "We believe expected credit losses will be manageable and upon factoring in future NIM pressure from a persistently low rate and flat yield curve environment and slower growth, we believe current valuations offer upside and an opportunity for investors to accumulate WBS with its coveted HSA Bank."

For an analyst ratings summary and ratings history on Webster Financial click here. For more ratings news on Webster Financial click here.

Shares of Webster Financial closed at $28.63 yesterday.

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