Piper Sandler analyst Matthew Clark upgraded Glacier Bancorp (GBCI) to Overweight from Neutral with a price target of $58, up from $50. The firm cites the recent underperformance of the shares for the upgrade. Glacier also offers greater net interest margin visibility due to its asset repricing, a double-digit earnings growth outlook, “more benign” credit profile, and discounted relative valuation versus its historical multiples, the analyst tells investors in a research note.
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