Prosperity Bancshares downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded Prosperity Bancshares (PB) to Market Perform from Outperform without a price target The shares are fairly valued in light of the solid performance following Q3 results juxtaposed with still-challenged loan and balance sheet and net interest income growth expectations, the analyst tells investors in a research note. Prosperity Bancshares is not viewed as a near-term seller, which limits the the potential for multiple expansion from recent/ongoing M&A activity in/around its markets, the firm says.