UPDATE: Stephens Starts First Interstate Bancsystems (FIBK) at Overweight
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(Updated - January 14, 2019 4:15 PM EST)
(updated to add analyst comment and price target)
Stephens analyst Gordon McGuire initiates coverage on First Interstate Bancsystems (NASDAQ: FIBK) with a Overweight rating, price target $45.00.
The analyst believes the company is attractively positioned for multiple expansion opportunities as he expects the banking industry headwinds and looming concerns regarding credit will drive investors toward banks with strong franchise value, conservative execution, and names that will experience tailwinds to improve profitability in the face of a challenging rate environment.
Shares of First Interstate Bancsystems closed at $37.92 yesterday.
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