Morgan Stanley analyst Manan Gosalia initiated coverage of New York Community Bancorp with an Equal Weight rating and $10 price target as he initiated coverage of 12 midcap banks and took over coverage of several others. Gosalia prefers to be positioned in names that are best-equipped to manage the headwinds from tightening liquidity conditions as rates rise, and has Underweight ratings on three that will see the most funding pressure due to idiosyncratic factors, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on NYCB:
- NEW YORK COMMUNITY BANCORP, INC. COMPLETES ACQUISITION OF FLAGSTAR BANCORP, INC.
- Unusually active option classes on open November 28th
- NEW YORK COMMUNITY BANCORP, INC. DECLARES A QUARTERLY CASH DIVIDEND ON ITS PREFERRED STOCK
- New York Community Bancorp call volume above normal and directionally bullish
- New York Community Bancorp approved for Flagstar Bancorp acquisition