California Bancorp upgraded to Overweight from Equal Weight at Stephens

Stephens upgraded California Bancorp (CALB) (BCAL) to Overweight from Equal Weight with an unchanged price target of $19. The merger-of-equals with California BanCorp, which closed in July of last year, brought together two like-minded California franchises and expanded California Bancorp’s reach into Northern California, the analyst tells investors. The firm sees “an attractive entry point,” citing integration headwinds from the recent MOE being mostly in the rear view and what it views as an attractive current valuation.