Burke & Herbert upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette analyst Wood Lay upgraded Burke & Herbert Financial Services to Outperform from Market Perform with a price target of $76, down from $79. The company completed its core conversion in November, representing a key step in the integration process of its Summit Financial acquisition, the analyst tells investors in a research note. The firm says that with the bank’s operating results “becoming cleaner and more clear” with the conversion now completed, paired with a “cheap valuation,” it upgrades Burke & Herbert.