Berkshire Hills upgraded to Neutral at Seaport on stronger EPS trajectory

As previously reported, Seaport Research analyst Laurie Havener Hunsicker upgraded Berkshire Hills Bancorp to Neutral from Sell and removed the firm’s previous price target on the shares, stating that the turnaround story “continues to exceed our expectations.” Following the bank’s Q4 report, the firm revised its FY24 EPS estimate to $2.09 from $1.61 and FY25 EPS estimate to $2.51 from $1.96, stating that Berkshire Hills’ credit costs have been tracking better than the firm’s prior expectations.