BGB Securities Starts Renasant Corp (RNST) at Buy

BGB Securities initiates coverage on Renasant Corp (NASDAQ: RNST) with a Buy. PT $20.50.

The firm comments, "We are initiating coverage of RNST with a Buy rating and a $20 price target. We derive our target through our discounted dividend model, the application of a 13x multiple to our 2013 EPS estimate and RNST's tangible book multiple of approximately 155% applied to our year-end 2013 estimate of $12.59. Our 2012 and 2013 EPS estimates are $1.05 and $1.20, respectively."

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

Shares of Renasant Corp closed at $18.22 yesterday.

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