First Citizens price target raised to $1,850 from $1,750 at Piper Sandler

Piper Sandler raised the firm’s price target on First Citizens to $1,850 from $1,750 and keeps an Overweight rating on the shares following quarterly results. The firm notes the shares of First Citizens rose significantly, inflecting during the call as management noted that its 2024 capital plan will have share repurchases starting in the second half of 2024. This guidance falls in line with Piper’s expectations.