Keefe Bruyette downgraded Atlantic Union Bankshares to Market Perform from Outperform with a price target of $36, down from $42. The analyst cites the recent outperformance in the stock and risk of lower guidance for the downgrade. The firm sees little upside to Atlantic’s valuation from here and believes the bank will need to lower guidance due to higher funding costs, slower growth and more reserve build.
Published first on TheFly
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