Reaffirming his bullishness on bank stocks, analyst Thomas H. Hanley of CS First Boston Corp. boosted his price targets Friday on many of the money-center banking companies he follows.
These banks should do well in the "slow economic growth, moderate inflationary scenario" that Mr. Hanley expects to characterize the banking environment into 1997.
The banks are controlling costs well, he said, and he expects them to buy back significant amounts of their own stock.
The analyst's new 12- to 18-month price target for Citicorp is $100 a share, up from an earlier $70 target. The stock closed Thursday at $59.375.
For Chemical Banking Corp., his price target was raised to $80 a share, from $60; for Chase Manhattan Corp., to $73, from $55; and for Bank of New York Co., to $62, from $52.
BankAmerica Corp.'s target was raised to $80, from $70; First Chicago Corp.'s, to $80, from $60; Bankers Trust New York Corp.'s, to $73, from $60; and Republic New York Corp.'s, to $75, from $65.