Brookline Bancorp rises after KBW upgrades to 'outperform'

Brookline Bancorp

04/12/2024 19:04

** Shares of regional lender Brookline Bancorp  BRKL.O  rise
as much as 3.6%; last up 2.2% at $12.79
    ** KBW upgrades BRKL to "outperform" from "market perform";
raises PT to $14.50 from $12, a 15.9% upside to stock's last
close
    ** Brokerage says BRKL has traded at a steep discount to its
peers throughout 2024    
    ** Adds that there is significant opportunity for the
valuation gap to narrow as BRKL's profitability returns toward
peer levels and credit concerns ease
    ** Risk/reward opportunity highly attractive at current
discounted levels — KBW
    ** Three of four brokerages rate the stock "buy" or higher
and one "hold"; median PT is $14.50 — LSEG
    ** As of last close, BRKL shares up 14.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))