Ameris Bancorp assumed with a Buy at DA Davidson

DA Davidson analyst Gary Tenner assumed coverage of Ameris Bancorp (ABCB) with a Buy rating with a price target of $87, up from $81. The firm has a positive view on the bank’s opportunity set and stock upside given its potential to benefit from in-market consolidation, growth opportunity, and franchise scarcity, the analyst tells investors in a research note. Ameris is one of the 11 southeast banks between $20B-$50B in assets, and is also one of just 3 with a meaningful branch presence in both Florida and Georgia, the firm added.