Piper Sandler Starts CoastalSouth Bancshares Inc (COSO) at Overweight

Piper Sandler analyst Stephen Scouten initiates coverage on CoastalSouth Bancshares Inc (OTC: COSO) with a Overweight rating and a price target of $26.00.

The analyst comments: "We are initiating coverage of Coastal States Bank (NYSE: COSO) with an Overweight rating and a 12-month price target of $26. Our PT implies ~22% upside to Friday's close as we assume the stock trades to ~1.2x of our estimate for TBVPS in one year's time. Given the bank's strong profitability and impressive growth profile, we think the shares could ultimately move closer to ~1.35x TBVPS and 11.5x fwd earnings given the peer set, but this will likely take some time to play out."

For an analyst ratings summary and ratings history on click here. For more ratings news on click here.

Shares of closed at $20.91 yesterday.

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