Cadence Bank upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler upgraded Cadence Bank (CADE) to Overweight from Neutral with a price target of $42, up from $36. The firm says the stock’s underperformance year-to-date brings greater potential upside. In addition, the benefits from the Industry Bancshares acquisition, including additional scale, cost saves, and increased liquidity, should drive upside in the shares, the analyst tells investors in a research note.