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Fly News Breaks for September 20, 2018
FBP
Sep 20, 2018 | 07:59 EDT
As previously reported, BofA/Merrill upgraded First BanCorp to Buy from Neutral and raised its price target to $11.50 from $9. Analyst Ebrahim Poonawala believes ongoing post-hurricane rebuilding efforts in Puerto Rico could pull the economy out of a decade-lone economic recession. A recovery could drive balance sheet and revenue growth at First BanCorp, and allow management to de-risk the balance sheet, the analyst wrote in a note to investors.
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