BofA starts F.N.B. with a Buy on discount valuation

As previously reported, BofA analyst Brandon Berman initiated coverage of F.N.B. with a Buy rating and $15 price target. Shares are trading at a discount to the Nasdaq Regional Banking Index and offer investors exposure to a “high-growth, geographically diverse mid-cap bank” at a discount, the analyst tells investors. The firm believes the transformation in the franchise following the integration of Yadkin Bank should result in further multiple expansion, the analyst added.