Morgan Stanley upgraded Prosperity Bancshares to Equal Weight from Underweight with a price target of $69, up from $57. In the last three months, Prosperity shares have underperformed the median bank by 400 basis points, the analyst tells investors in a research note. The firm now views the stock’s risk/reward from here as more balanced. It sees 70 basis points of net interest margin expansion by the end of 2025 as loan growth accelerates and fixed-rate loan repricing comes through.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PB:
- Prosperity Bancshares price target lowered to $78 from $79 at DA Davidson
- Prosperity Bancshares price target lowered to $76 from $77 at UBS
- PROSPERITY BANCSHARES, INC.® REPORTS FOURTH QUARTER 2023 EARNINGS
- Prosperity Bancshares reports Q4 EPS $1.02, consensus $1.17
- Prosperity Bancshares (PB) Q4 Earnings Cheat Sheet