Raymond James lowered the firm’s price target on First Citizens (FCNCA) to $2,200 from $2,500 and keeps an Outperform rating on the shares. While EPS missed expectations and the net interest income guide was trimmed, Raymond James believes there were favorable underlying trends, the analyst tells investors in a research note. The firm is bullish on the shares and thinks the bank is poised to outgrow its peers when economic activity accelerates.
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