As previously reported, Stephens upgraded Customers Bancorp (CUBI) to Equal Weight from Underweight with an unchanged price target of $71. Shares now trading at “a more-than-sufficient discount” to more profitable peers, better reflecting key risks and inherent value of a balance sheet concentrated and reliant on crypto related funding, brokered deposits, and other high-cost-funding areas, the analyst tells investors. The firm continues to watch increased competition from newcomers in the crypto-space, the Clarity Act, which remains stalled as legacy banks fight back, and more recently, developments in the private credit space, the analyst added.
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Read More on CUBI:
- Customers Bancorp upgraded to Equal Weight from Underweight at Stephens
- Customers Bancorp assumed with an Overweight at Piper Sandler
- Customers Bancorp initiated with an Overweight at JPMorgan
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