Jefferies upgrades Renasant to 'outperform'

Renasant

27/10/2022 13:21

** Raymond James upgrades bank holding company Renasant Corp
 RNST.O  to "outperform" from "market perform," sets PT at $41
    ** Brokerage notes that co's lending culture is conservative
with strong capital position and loan loss reserves, all better
than peers; believes share value is discounted vs peers 
    ** Piper Sandler raises PT to $39 from $35 on expectations
of better loan growth and net interest margin
    ** Co performed better than expected when it reported
third-quarter results on Tuesday  urn:newsml:reuters.com:*:nGNX9PpyJv
    ** Brokerage KBW also raises PT to $40 from $37
    ** Two of the eight brokerages covering the stock rate it
"buy" or higher, six have "hold"; their median PT is $38 -
Refinitiv
    ** Up to Wednesday's close, stock had fallen 6.2% YTD,
compared with a 10.3% decline in the S&P 600 Banks Industry
index  .SPSMCBK 
 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))