South State price target lowered to $85 from $95 at Raymond James

Raymond James analyst Michael Rose lowered the firm’s price target on South State to $85 from $95 and keeps an Outperform rating on the shares. The firm continues to view risk-reward positively given the benefits from recent acquisitions fueling projected positive operating leverage/profitability in 2023 amid an increasingly challenging economic backdrop, the analyst tells investors in a research note.