Morgan Stanley analyst Manan Gosalia initiated coverage of Prosperity Bancshares with an Equal Weight rating and $69 price target as he initiated coverage of 12 midcap banks and took over coverage of several others. Gosalia prefers to be positioned in names that are best-equipped to manage the headwinds from tightening liquidity conditions as rates rise, and has Underweight ratings on three that will see the most funding pressure due to idiosyncratic factors, the analyst tells investors.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PB:
- PROSPERITY BANCSHARES, INC.® REPORTS THIRD QUARTER 2022 EARNINGS
- PROSPERITY BANCSHARES, INC.® INCREASES COMMON STOCK DIVIDEND
- PROSPERITY BANCSHARES, INC.® TO ACQUIRE LONE STAR STATE BANCSHARES, INC. IN LUBBOCK, TEXAS
- PROSPERITY BANCSHARES, INC.® TO ACQUIRE FIRST BANCSHARES OF TEXAS, INC. IN MIDLAND, TEXAS