Popular price target raised to $90 from $80 at RBC Capital

RBC Capital analyst Gerard Cassidy raised the firm’s price target on Popular to $90 from $80 and keeps an Outperform rating on the shares. The company reported “solid” Q4 results and looks to be in a very strong capital position with a 16.3% common equity tier 1 ratio, which should give the bank flexibility and optionality to seize opportunities, the analyst tells investors in a research note.