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.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
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