Goldman Sachs Maintains Buy Rating On Popular, Inc.

Goldman Sachs maintains its Buy rating and its 12-month normalized EPS-based price target of $4.25 on shares of Popular Inc. BPOP. “We recently hosted a day of meetings with BPOP management and came away with renewed confidence that the company is well positioned to further capitalize on the disruption in the Puerto Rican banking environment,” Goldman Sachs writes. “While the majority of the takeaways were positive (such as, better deposit pricing and positive credit signs), the caveat of a still struggling Puerto Rican economy was prevalent in most discussions.” Popular Inc. closed Friday at $2.98.