First Niagara shares should be bought on weakness, says RBC Capital

theflyonthewall.com

After First Niagara reported in-line results but announced a technology investment initiative, RBC Capital expects the initiative to negatively impact the bank's profitability for the foreseeable future. The firm, however, thinks the market overreacted to the news. It lowered its price target to $11 from $12 but keeps an Outperform rating on the shares.

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