Popular price target raised to $94 from $92 at UBS

UBS raised the firm’s price target on Popular to $94 from $92 and keeps a Neutral rating on the shares following quarterly results. The company also reiterated the majority of their prior 2024 outlook, with the only change related to the tax rate, the firm pointed out in a research note on Friday. In terms of capital return, management noted they expect to announce a capital plan in the second half of the year, but did not go as far as to quantify the size or provide any guidance as to what the range could be, says UBS.