Hancock Whitney (HWC) PT Raised to $53 at BofA Securities as a New Orleans Reopening Play
- Wall St to open flat as earnings roll in; jobless claims fall
- Credit Suisse (CS) Falls 6% on 'Unacceptable Loss' as Exposure to Archegos Grew to More Than $20 Billion, Set to Raise Over $2 Billion to Support Liquidity
- U.S. weekly jobless claims decline further
- Cathie Wood's ARK Buys Over 5M Shares of Skillz (SKLZ), Nearly 3M Shares of IPO UiPath (PATH)
- Chipotle Mexican Grill (CMG) Tops Q1 Profit Views, Analysts Maintain Bullishness For 2021
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
BofA Securities analyst Ebrahim Poonawala raised the price target on Hancock Whitney (NASDAQ: HWC) to $53.00 (from $45.00) noting shares have underperformed YTD, trading at a sizable discount to peers at 11.5x P/E vs. the 15.8x median for mid-to-small cap peers. The 4.3x P/E discount compares to historical 1.3x discount over the last decade.
The analyst reiterated a Buy rating, stating "On Friday, New Orleans eased pandemic-related restrictions, including the return of live entertainment (shut since Mar ‘20). This occurred following a 90%+ decline in COVID-19 cases since Jan. While a full re-opening in visitor activity is likely a 2H21/1H22 event, we believe that an improving trend could be enough to boost investor sentiment."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- TE Connectivity (TEL) PT Raised to $160 at Jefferies on Better Than Expected Organic Sales
- UiPath (PATH) IPO Opens 17% Higher
- UPDATE: MKM Partners Upgrades Cimarex Energy (XEC) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!