First BanCorp price target raised to $24 from $22 at BofA

BofA analyst Brandon Berman raised the firm’s price target on First BanCorp (FBP) to $24 from $22 and keeps a Buy rating on the shares. The firm adjusted regional bank price targets as part of a Q2 earnings preview. A lack of interest rate cuts delay a rebound in growth, but “resilient” earnings, an acceleration in loan growth, and investment banking activity server as catalysts for the stocks, the analyst tells investors in a research note.