Jefferies Upgrades Associated Banc-Corp (ASBC) to Buy

Jefferies upgraded Associated Banc-Corp (NASDAQ: ASBC) from Hold to Buy with a price target of $16.00.

The firm states, "We are upgrading ASBC to Buy (from Hold) following the release of 2Q earnings results on 7/21. The company has distinctive loan growth opportunities, holds significant excess capital, and has comprehensively scrubbed the loan portfolio; also improvements underway significantly improve the appeal of the franchise. Our price target of $16 reflects a 12x multiple on our normal earnings estimate of $1.35."

For more ratings news on Associated Banc-Corp click here and for the rating history of Associated Banc-Corp click here.

Shares of Associated Banc-Corp closed at $13.78 yesterday.

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