Market Overview

UPDATE: Goldman Sachs Initiates First Republic Bank with CL-Buy on Outsized Growth Potential

Related FRC
First Republic Bank Grows Earnings, At A Cost
5 Stocks To Watch For October 13, 2016

In a report published Tuesday, Goldman Sachs analyst Ryan M. Nash initiated coverage on First Republic Bank (NYSE: FRC) with a Conviction List Buy rating and $47.00 price target.

In the report, Nash noted, “We view FRC as one of the premier banking franchises and see it as among the best positioned for growth over the next 3-5 years given (1) best-in-class market demographics across its footprint, (2) market penetration opportunities in NYC, and (3) further build-out of its wealth management platform. We see these driving upside to consensus expectations the next few years, as our 2014/2015 estimates are 8%/12% above consensus.”

First Republic Bank closed on Monday at $37.79.

Latest Ratings for FRC

Nov 2016Morgan StanleyDowngradesOverweightEqual-Weight
Oct 2016BarclaysMaintainsOverweight
Oct 2016Keefe Bruyette & WoodsMaintainsMarket Perform

View More Analyst Ratings for FRC
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Initiation Analyst Ratings


Related Articles (FRC)

View Comments and Join the Discussion!