Keefe, Bruyette & Woods Maintains Outperform on First Bancorp, Lowers Price Target to $37
Portfolio Pulse from Benzinga Newsdesk
Keefe, Bruyette & Woods analyst Brady Gailey maintains an Outperform rating on First Bancorp (NASDAQ:FBNC) but lowers the price target from $40 to $37.
July 27, 2023 | 6:54 pm
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NEGATIVE IMPACT
First Bancorp's price target has been lowered from $40 to $37 by Keefe, Bruyette & Woods, though the Outperform rating is maintained.
The lowering of the price target by Keefe, Bruyette & Woods could potentially lead to a negative sentiment among investors, which may put downward pressure on the stock price in the short term. However, the maintained Outperform rating indicates that the analyst still sees potential upside for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100