Central Valley Community upgraded to Buy from Neutral at Janney Montgomery Scott

Janney Montgomery Scott upgraded Central Valley Community (CVCY) to Buy from Neutral with a fair value estimate of $20, up from $18. The firm cites expectations for a “substantial increase” in earnings from accelerated accretion of loan marks from the acquisition of Community West Bancshares (CWBC) and also views the combined franchises as “an attractive acquisition target when valuations normalize,” the analyst tells investors.