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Puerto Rico’s local economy got a massive boost from Bad Bunny’s Bad Bunny’s 31-date residency, giving Popular — the biggest bank on the island — a lift as well, according to Wells Fargo. The investment firm, which has an overweight rating on Popular, raised its price target to $150 from $140. The new target signals upside of 17.2%. Bad Bunny’s shows added roughly $400 million to Puerto Rico’s economy with nearly 600,000 attendees turning out to see the artist, he added. Bad Bunny, whose legal name is Benito Antonio Martinez, held his residency’s final show over the weekend. BPOP YTD mountain BPOP year to date “The Bad Bunny experience likely offset all, if not more, of the typical 3Q seasonality for island deposits, providing upside potential for larger balances sheets, and ultimately EPS,” Wells Fargo analysts Timur Braziler said in the note to clients. Concertgoers helped sustain tourism on the island during its off-season months of August and September, alleviating deposit pressures on local banks, including Popular’s banking arm, Wells Fargo noted. Separately, Popular’s banking arm is also poised to benefit from the economic effect of federal stimulus disbursements worth roughly 8% of the island’s gross national product over the next decade, Braziler said. Wells Fargo is in line with other Wall Street shops covering Popular. Out of the eight analysts who cover Popular, three-quarters rate the stock a buy or strong buy, LSEG data shows. Popular shares this year have been on fire, up 35% in that time. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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