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Fly News Breaks for November 26, 2019
FRC
Nov 26, 2019 | 09:03 EDT
With First Republic in "full blown expansion mode" towards $250B of assets, the shares are "poised to double again," JPMorgan analyst Steven Alexopoulos tells investors in a research note. The shares are "nearly perfectly correlated" to the size of the balance sheet, and First Republic's assets should double over the next five years, argues the analyst. He sees the stock price following suit and keeps an Overweight rating on First Republic. Alexopoulos boosted his price target for the shares to $132 from $125.
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