UPDATE: Raymond James Upgrades BancorpSouth (BXS) to Outperform

May 14, 2021 4:21 AM EDT
Get Alerts BXS Hot Sheet
Price: $30.35 +0.83%

Rating Summary:
    4 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 7 | New: 31
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(Updated - May 14, 2021 7:25 AM EDT)

Raymond James analyst Jayson Bedford upgraded BancorpSouth (NYSE: BXS) from Market Perform to Outperform with a price target of $36.00.

The analyst comments "We are upgrading BXS shares from Market Perform to Outperform and establishing a $36 price target following virtual investor meetings we hosted with the management teams of both BancorpSouth and Cadence yesterday. Plainly, BXS shares screen as the most attractive on 2022 P/E in our Southeast/Southwest coverage universe and among the most attractive in our regression of current P/TBV vs. 2022E ROTCE and 2022E ROA (see analysis on pages 7-8) where we see strong potential for shares to re-rate higher. While we may be early in our call given an expected closing of the Cadence acquisition (link) in 4Q21, we walked away from the meetings with increased confidence in management's ability to exceed previously stated cost savings and EPS accretion targets."

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

Shares of BancorpSouth closed at $31.03 yesterday.


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