D.A. Davidson starts coverage on Linkbancorp with 'buy'

Linkbancorp

10/10/2022 17:30

** D.A. Davidson initiates coverage on bank holding co
Linkbancorp Inc  LNKB.O  with 'buy' rating; sets PT at $9
    ** Expects co to post strong loan growth over the next three
years vs peers 
    ** Adds management's experience in the Pennsylvania region
and quality of lending hires should support loan growth in any
environment   
    ** "LNKB targets $300 mln in commercially-weighted net loan
growth annually over the next 3 years and total assets of $2
bln+" - brokerage 
    ** Says while co is positioned for organic growth, it also 
has opportunities to grow faster through M&A  
    ** Shares in LNKB down 38.4% YTD
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))