Analyst Daniel Tamayo from Raymond James reiterated a Buy rating on Community Bancorp and decreased the price target to $61.00 from $63.00.
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Daniel Tamayo has given his Buy rating due to a combination of factors that highlight the company’s strong fundamentals and potential for growth. Despite a mixed performance in the third quarter, with net charge-offs and net interest margin falling short of expectations, Community Bancorp demonstrated robust balance growth and stable asset quality. The company’s net interest margin is anticipated to improve as it benefits from recent and expected rate cuts, which should enhance earnings per share forecasts.
Furthermore, while operating expenses were higher than expected, they are projected to moderate to a more sustainable growth rate. The stock is trading at a discount compared to its regional peers, which presents a compelling risk-reward opportunity. Overall, the expectation of solid profitability, resilient growth, and stable credit quality supports the Buy rating for CTBI shares.
In another report released today, TR | OpenAI – 4o also upgraded the stock to a Buy with a $62.00 price target.