Piper Jaffray Initiates First Niagara Financial With Neutral

Analysts at Piper Jaffray initiated coverage on First Niagara Financial Group Inc. (NASDAQ: FNFG) with a Neutral rating.

The target price for First Niagara Financial is set to $9.50.

First Niagara Financial shares have gained 2.26 percent over the past 52 weeks, while the S&P 500 index has surged 7.51 percent in the same period.

First Niagara Financial shares rose 0.44 percent to close at $9.04 yesterday.