South State price target raised to $120 from $115 at Raymond James

Raymond James raised the firm’s price target on South State (SSB) to $120 from $115 and keeps a Strong Buy rating on the shares. Quarterly results for the banks should reflect relatively solid loan growth, further net interest margin expansion, while several fee lines of business should prove to be relatively solid, expense trends remain in check, and capital return is expected to trend positively, the analyst tells investors in a research note.