** Wells Fargo Securities says Puerto Rico banks are well positioned to withstand the potential impact of tariffs
** Sees the island as a net winner from recent macro uncertainty as its economy benefits from federal stimulus disbursements
** Brokerage says tariff exempt products - oil and pharma - represent a large portion of the island's imports
** While tariffs will likely have inflationary pressure across the U.S., Puerto Rico could get some relief from lower oil prices given that petroleum-fired power plants generate more than 60% of the island's electricity - brokerage
** Upgrades Popular BPOP.O and First BanCorp FBP.N to "overweight" from "equal-weight" as public fund deposits repricing lower will boost interest income
** Meanwhile, Wells Fargo downgrades OFG Bancorp OFG.N to "equal-weight" from "overweight" as deposit costs are unlikely to move lower along with rate cuts
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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