Market Overview

UPDATE: Goldman Sachs Initiates Coverage on First Niagara Financial Group with Neutral Rating, $8.50 PT

Related FNFG
CommunityOne Board Chair Resigns To Take Directorship At First Niagara Financial Group; Replaced by J. Chandler Martin, Former Bank of America Treasurer
Top 4 NASDAQ Stocks In The Regional-Mid-Atlantic Banks Industry With The Highest Revenue

In a report published Wednesday, Goldman Sachs Group initiated coverage on First Niagara Financial Group (NASDAQ: FNFG) with a Neutral rating and $8.50 price target.

Goldman Sachs noted, “After completing four deals since late 2009, FNFG's focus is now on growing its franchise. We see its efforts leading to outsized loan growth vs. peers and significant fee income opportunities driving further upside. However, intense competition and low rates are set to continue to mask these initiatives, limiting ROA expansion (we see 80bp in 2014 vs. target of 110bp) and efficiency improvement over the next two years.”

First Niagara Financial Group closed on Tuesday at $7.91.

Latest Ratings for FNFG

Jul 2014BarclaysMaintainsUnderweight
Apr 2014CitigroupMaintainsHold
Apr 2014JefferiesMaintainsHold

View More Analyst Ratings for FNFG
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Initiation Analyst Ratings


Related Articles (FNFG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters