Piper Sandler Downgrades First Citizens BancShares to Neutral, Raises Price Target to $1950
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Stephen Scouten downgraded First Citizens BancShares (FCNCA) from Overweight to Neutral, while raising the price target from $1850 to $1950.

April 26, 2024 | 2:21 pm
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NEUTRAL IMPACT
First Citizens BancShares was downgraded by Piper Sandler from Overweight to Neutral, but the price target was increased from $1850 to $1950.
The downgrade to Neutral suggests a more cautious outlook on FCNCA's stock by Piper Sandler, potentially due to valuation or other concerns. However, the increase in the price target indicates an expectation of some positive performance. This mixed signal could lead to short-term uncertainty among investors, balancing out potential impacts on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100