Raymond James lowered the firm’s price target on Cadence Bank to $26 from $30 and keeps a Strong Buy rating on the shares. The firm remains bullish on Cadence shares given the value creation from the merger, the benefit of its credit mark should the economy soften/credit inflect, and the timely EPS-accretive restructuring of its balance sheet juxtaposed with its discounted valuation vs. peers, the analyst tells investors in a research note.
Published first on TheFly
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