First Citizens price target raised to $1,780 from $1,490 at UBS

UBS raised the firm’s price target on First Citizens to $1,780 from $1,490 and keeps a Buy rating on the shares. First Citizens’ Q2 results provided more comfort surrounding the earnings power of the bank and the stability of the SVB franchise under its umbrella, along with strong capital generation that is driving a widening gap between First Citizens and peers on CET1, the analyst tells investors in a research note.