Eastern Bankshares resumed with Neutral from Underweight at JPMorgan

JPMorgan upgraded Eastern Bankshares to Neutral from Underweight with a price target of $18.50, up from $14, after resuming coverage following a period of restriction. The company has levers to boost its earnings potential given its excess capital position, the analyst tells investors in a research. The firm says that with an inline organic growth profile post the deal, it sees the shares are fairly valued.