Wolfe Research analyst Bill Carcache double upgraded Prosperity Bancshares to Outperform from Underperform with a $68 price target. The analyst views Prosperity as a "flight-to-quality name" that provides investors with an "attractive place to hide amid the current market tumult." At a time when the regulatory environment is likely to become more stringent following several recent regional bank failures, Prosperity’s capital position is a "significant source of strength and positions it to withstand tougher regulatory requirements," the analyst tells investors in a research note.
Published first on TheFly
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