Stephens downgraded First Busey to Equal Weight from Overweight with a price target of $27, down from $28. Investor feedback following an acquisition announcement “tends to be mixed,” but in the case of First Busey’s (BUSE) deal with CrossFirst (CFB), the response has been “decidedly cautious at best,” the analyst says. Given investor sentiment, First Busey has become “a more wait-and-see story with limited catalysts over the next year,” the analyst contends.
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Read More on BUSE:
- First Busey price target raised to $33 from $31 at Keefe Bruyette
- First Busey price target raised to $29 from $28 at DA Davidson
- First Busey’s Merger with CrossFirst Bankshares
- First Busey, CrossFirst enter plan of merger for $916.8M transaction
- First Busey and CrossFirst to merge in $916.8M all stock deal
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