UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on City National Corp. Awaiting Better Entry Point

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on

, and raised the price target from $75.00 to $77.00. In the report, Deutsche Bank noted, “We continue to believe longer-term share upside could be meaningful given CYN's stronger asset sensitivity and leverage to a more robust economic recovery, and expect the shares to continue to garner support due to these strengths, but we await a better entry point near-term given less upside to our TP vs. our Buy-rated names. We recently traveled with Chris Carey (CFO) and gained greater comfort in our elevated loan growth estimates for FY14, as well as our expectations for continued moderate expense growth and modest NII growth (ex. accretion) despite the potential for further core NIM pressure.” City National Corp. closed on Friday at $74.39.