Bank of Hawaii upgraded to Market Perform from Underperform at Keefe Bruyette

Keefe Bruyette upgraded Bank of Hawaii to Market Perform from Underperform with a price target of $67, up from $60. The firm says that following the Federal Reserve’s recent cuts and outlook for rates ahead, it sees a pathway to “meaningful improvement” for Bank of Hawaii. While the bank is still a few years out from normalized profitability, its earnings trajectory justifies a return to their premium multiple, the analyst tells investors in a research note.