First Busey gets 'overweight' rating as Piper Sandler resumes coverage

First Busey

01/07/2025 14:37

** Piper Sandler resumes coverage of regional lender First Busey BUSE.O at "overweight" rating

** Brokerage says BUSE is poised for multiple expansion as cost synergies and more consistent loan growth emerges with its CrossFirst deal

** Says the deal should contribute to BUSE's profitability profile largely matching peers starting early next year

** BUSE shares trade at a discount to peers creating an attractive entry point, brokerage says

** Piper Sandler's $30 PT on BUSE represents 31.1% upside to stock's last close

** 4 of 7 brokerages rate the stock "buy" or higher and 3 "hold"; median PT $26 - data compiled by LSEG

** As of last close, BUSE stock down 2.9% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))