Piper Sandler analyst Nathan Race upgraded German American Bancorp (GABC) to Overweight from Neutral with an unchanged price target of $47. The firm cites the stock’s “relatively discounted valuation” compared to its historical average for the upgrade. German American also offers a “well-above average” profitability outlook that has upside potential given a number of company-specific catalysts, the analyst tells investors in a research note.
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