Stephens initiated coverage of FirstSun Capital (FSUN) with an Overweight rating and $44 price target FirstSun operates an established C&I organic growth strategy focused in growth markets in Dallas, Houston, Phoenix, Denver and Southern California and given the stock’s recent Nasdaq up-listing, the firm thinks FirstSun is “still relatively less known among the institutional investment community.” However, the firm expects FirstSun to be added to the Russell 2000 Index at reconstitution and believes index inclusion will “provide outperformance and improved trading volumes in coming months,” the analyst added.
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