First BanCorp price target raised to $25 from $24 at Truist

Truist raised the firm’s price target on First BanCorp (FBP) to $25 from $24 and keeps a Buy rating on the shares after its Q4 results. The firm is adjusting its model to reflect higher net interest income driven by a higher net interest margin and a lower tax rate, the analyst tells investors in a research note.