Keefe Bruyette upgraded Beacon Financial (BBT) to Outperform from Market Perform with a $33 price target The firm is citing its expectations for meaningfully improved returns coupled with a steeply discounted valuation, as the stock is trading at a 33% discount to peers on its 2026 estimates and a 23% discount to peers after netting out purchase accounting accretion and amortization, the analyst tells investors in a research note. Key catalysts include achieving cost saves of approximately 12% of the combined company as well as the planned reduction of its commercial real estate concentration, the firm added.
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