Benchmark Securities raised its price target on Popular Inc. to $216 from $214 while maintaining a Buy rating, citing an improved revenue outlook for the financial holding company.
The adjustment follows a broader round of analyst upgrades for the NASDAQ-listed bank, which operates primarily in Puerto Rico and the continental United States. Truist Securities lifted its target to $197, Keefe, Bruyette & Woods to $207, RBC Capital to $181, and Wells Fargo reiterated an Overweight rating with a $200 target.
Popular shares were trading at $169.75 at the time of the update, up 37.8% year-to-date, with a P/E ratio of 11.51. Benchmark trimmed its fiscal 2026 earnings forecast by $0.16 to $16.18 per share, reflecting refined income tax assumptions, while raising its fiscal 2027 estimate by $0.16 to $17.30 per share.
The bank’s net interest income is projected to rise 8% to 9% this year, with expense growth expected to remain contained at 2% to 3%. Return on assets expansion is modeled cautiously through fiscal 2027, aligning with consensus estimates. RBC Capital highlighted Popular’s strong capital position, citing a common equity tier 1 ratio of 16.1%.
