Wintrust downgraded to Market Perform from Outperform at Keefe Bruyette

Keefe Bruyette downgraded Wintrust Financial to Market Perform from Outperform with a price target of $115, up from $110. With an essentially unchanged earnings outlook, Keefe would need to rely on further multiple expansion to continue recommending the shares, which may be more difficult given the expansion that’s already recently occurred and the shift in sentiment that is beginning to impact “higher-for-longer” rate stocks, the analyst tells investors in a research note.