DA Davidson keeps a Neutral rating and $33 price target on Sandy Spring Bancorp but adds the name to the firm’s “STAMPEDE List” for its take-out potential following press reports that the bank is in talks for a strategic sale. If accurate, this should attract bidders driving upside in the stock, though excluding the possibility of a sale, the bank faces a “long slog” to recover profitability even with imminent rate cuts, the analyst tells investors in a research note.
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