Truist analyst Arren Cyganovich raised the firm’s price target on Popular (BPOP) to $172 from $164 and keeps a Buy rating on the shares. The firm notes that the biggest benefit from the company’s Q1 earnings beat was deposit cost improvement and operating leverage from lower expenses, the analyst tells investors in a research note. Management also indicated potential for capital optimization plans to be announced ahead of Q2 results, the firm added.
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