Amalgamated Financial rises as Raymond James starts coverage at 'outperform'
03/09/2026 12:42
BUZZ-Amalgamated Financial rises as Raymond James starts coverage at 'outperform' ** U.S. bank Amalgamated Financial AMAL.O shares rise 1.8% to $48.99 in light premarket volumes
** Raymond James initiates coverage of AMAL with "outperform" rating and $55 PT, a 14% upside to last close
** Brokerage says AMAL's low-cost deposit franchise should support continued earnings growth and strong profitability
** Adds that ongoing investments in technology and seasoned commercial banker hires should support AMAL's organic growth capacity
** "We believe shares are attractively valued given above-peer profitability and strong organic growth outlook," Raymond James analyst Steve Moss says
** As of last close, AMAL stock up 50.3% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
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