Trustmark upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette upgraded Trustmark to Outperform from Market Perform with a price target of $36, up from $30. The analyst says the insurance sale “provides a nice capital infusion” while the bond restructure offers a notable earnings lever to “bridge the gap to more peer-like profitability.” The firm cites the catalyst of emerging profitability and a “relatively inexpensive” valuation for the upgrade.