Raymond James upgraded Third Coast Bancshares (TCBX) to Outperform from Market Perform with a $45 price target ahead of the Q1 report. The firm cites the “positive benefits” from the recently-completed acquisition of Keystone Bancshares for the upgrade. Raymond James sees an improved valuation at current share levels given its expectations for positive operating leverage moving forward bolstered by Third Coast’s high single-digit loan growth outlook.
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