UBS analyst Nichola Holowko lowered the firm’s price target on First Citizens (FCNCA) to $2,410 from $2,460 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results for mid-cap banks. The firm started this year with caution optimism on the belief that capital-rich and higher growth peers are poised to take advantage of a commercial lending rebound, the analyst tells investors in a research note. The back half of the year is where these trends may start playing out, especially if lending outlooks follow through with back half growth, the firm added.
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