Keefe, Bruyette & Woods Upgrades First Busey Corporation (BUSE) to Market Perform
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Keefe, Bruyette & Woods upgrades First Busey Corporation (Nasdaq: BUSE) from Underperform to Market Perform. Price target $4.
Keefe analyst says, "BUSE reported a 3Q09 operating loss of ($2.11)/share, ex. a $208mm goodwill impairment charge (-$5.81/share), which was lower than expected following the pre-announcement. We are upgrading the shares of BUSE to MP from UP due to valuation, as BUSE has traded through our TP and are now more in line with our stress case TBV estimate. Adjusting TP and estimates."
To see more analyst ratings on BUSE Click Here.
First Busey Corporation operates as a bank holding company for Busey Bank and Busey Bank, National Association that provide various retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States.
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