Renasant upgraded to Strong Buy from Outperform at Raymond James

Raymond James upgraded Renasant (RNST) to Strong Buy from Outperform with an unchanged price target of $40. The company reported solid Q1 results, the analyst tells investors in a research note. The firm says its more positive view on Renasant reflects the benefits from the earlier than expected First Bancshares deal closing, the stronger than forecast start to the year, the downside protection from the associated loan mark, and its capital flexibility following the deal.