Keefe, Bruyette & Woods Upgrades Fulton Financial (FULT) to Market Perform
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Keefe, Bruyette & Woods upgrades Fulton Financial Corp. (Nasdaq: FULT) from Underperform to Market Perform. Price target $5.
Keefe analyst says, "We are upgrading FULT to Market Perform based on valuation and more limited downside to our $5 target, which represents 1.2x our estimate of cycle-end Stress Case TBVPS of $4.23. The shares are also trading at a discount to the KRX at 7.1x the midpoint of our normalized EPS range of $0.70- $0.85, assuming FULT raises common to pay back TARP (KRX median is 8.0x)."
To see more analyst ratings on FULT Click Here.
Fulton Financial Corporation is a bank holding company. The Company directly owns 100% of the common stock of ten community banks, two financial services companies and eleven non-bank entities.
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