Raymond James upgraded Prosperity Bancshares to Outperform from Market Perform with an $85 price target. The company is well positioned fundamentally heading into a economic slowdown and/or recession given historically strong credit quality, it should experience NIM expansion while most peers/the industry exhibit contraction as its bond book reprices higher, and it benefits from accretion income from its two pending acquisitions, the analyst tells investors in a research note.
Published first on TheFly
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