UPDATE: Credit Suisse Initiates Coverage on First Bancorp on Better Visibility, Limited Downside Risk - First BanCorp (NYSE:FBP)

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

In a report published Friday, Credit Suisse analyst Matthew Clark initiated coverage on

27% profit every 20 days?

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First Bancorp

(NYSE: FBP) with an Outperform rating and $10.00 price target.In the report, Credit Suisse noted, “We initiate coverage on First BanCorp with an Outperform rating and a $10 target price, reflecting 1.3x our adj. TBV estimate or 10x normalized EPS plus excess capital. FBP has better visibility than most banks at this stage to improve profitability with multiple levers. We find downside risk limited when conservatively assuming another bulk loan sale.”First Bancorp closed on Thursday at $6.75.