Keefe Bruyette analyst Christopher McGratty upgraded Columbia Banking (COLB) to Outperform from Market Perform with a price target of $31, up from $30. The firm said it can no longer ignore the compelling risk/reward setup at Columbia Banking System and returns to Outperform after a nearly 18-month hiatus. The firm’s positive thesis is rooted in five key areas, namely: a cheap stock that’s meaningfully lagged; improved earnings visibility/consistency; capital flexibility/buyback catalyst; peer-leading returns, and; compelling risk/reward.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COLB:
- Columbia Banking price target lowered to $29 from $30 at Barclays
- Columbia Banking price target raised to $28 from $26 at JPMorgan
- Columbia Banking initiated with a Hold at TD Cowen
- Columbia Banking added to Analyst Current Favorites list at Raymond James
- Columbia Banking upgraded to Strong Buy from Outperform at Raymond James