Morgan Stanley analyst Manan Gosalia raised the firm’s price target on Flagstar Financial (FLG) to $14 from $13 and keeps an Equal Weight rating on the shares. A steepening yield curve with lower short end rates is “an ideal backdrop for Midcap Banks,” says the analyst, who is upgrading the industry view to Attractive. The midcap banks group has underperformed year-to-date, setting up “a compelling buying opportunity,” the analyst tells investors.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FLG:
- Flagstar Financial initiated with a Hold at TD Cowen
- ‘Time to Go Long on Bank Stocks’: Cantor Suggests 2 Names to Buy
- Flagstar Financial Inc call volume above normal and directionally bullish
- Flagstar Financial price target raised to $13.50 from $12 at Truist
- Cantor starts U.S. banks with ‘constructive view,’ names Citizens as top pick