As previously reported, Janney Montgomery Scott analyst Brian Martin upgraded First Financial (THFF) to Buy from Neutral with a $58 fair value estimate. The firm expects the valuation gap with peers to narrow as operating performance and profitability remain “solid” and as First Financial shows an improved growth profile and geographic diversity associated with its expansion strategy, the analyst tells investors. M&A that increases scale and profitability is also a potential catalyst with “conversations active,” the analyst added.
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