Popular price target raised to $125 from $118 at RBC Capital

RBC Capital raised the firm’s price target on Popular (BPOP) to $125 from $118 and keeps an Outperform rating on the shares. Popular continues to have a very strong capital position with a 16.1% common equity tier 1 ratio, which gives it flexibility and optionality to seize opportunities to grow the bank, and the Puerto Rican economy continues to benefit from the U.S. Government disaster relief spending and U.S. economic growth, the analyst tells investors in a research note.