Prosperity Bancshares price target raised to $87 from $82 at Raymond James

Raymond James analyst Michael Rose raised the firm’s price target on Prosperity Bancshares (PB) to $87 from $82 and keeps an Outperform rating on the shares. Prosperity posted solid Q4 results that exceeded consensus expectations, and Raymond James continues to view risk-reward positively given its notable fixed asset repricing story over the next few years, superior credit profile, potential for opportunistic M&A, and ongoing expense control driving profitability expansion over the next few years, the analyst tells investors in a research note.