Seaport Research analyst Laurie Havener Hunsicker upgraded Washington Trust (WASH) to Buy from Neutral with a $36 price target The firm cites valuation for the upgrade following the recent drop in shares. Washington’s recently completed cap raise and balance sheet repositioning “safely secures” it dividend coverage, the analyst tells investors in a research note. Seaport points out the stock is now 13.4% below its recently completed spot raise of $34 per share.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WASH:
- Washington Trust management to meet virtually with Seaport Research
- Washington Trust Bancorp Navigates Challenging Quarter with Optimism
- Washington Trust price target lowered to $36 from $37 at Keefe Bruyette
- Washington Trust Bancorp Reports Strategic Loss Amid Repositioning
- Washington Trust reports Q4 non-GAAP EPS 59c, consensus 55c
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue