UPDATE: Raymond James Upgrades Business First Banchsares (BFST) Two Notches to Strong Buy; Positive on Pedestal Deal

January 27, 2020 6:55 AM EST
Get Alerts BFST Hot Sheet
Price: $22.02 --0%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 7 | New: 29
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(Updated - January 27, 2020 7:29 AM EST)

(updated to add analyst comments)

Raymond James analyst William Wallace upgraded Business First Banchsares (NASDAQ: BFST) from Market Perform to Strong Buy with a price target of $30, saying the Pedestal should be 'transformational'.

The analyst commented, "We are upgrading shares of Business First (BFST) from Market Perform to Strong Buy and establishing a $30 target price following 4Q19 results and the concurrent announcement of a definitive agreement to acquire Pedestal Bancshares. We believe Pedestal will represent a transformational acquisition for the company given added scale and expanded profitability expectations."

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

Shares of Business First Banchsares closed at $24.65 yesterday.

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