United Community Banks price target lowered to $32 from $37 at Raymond James

Raymond James analyst Michael Rose lowered the firm’s price target on United Community Banks (UCB) to $32 from $37 and keeps an Outperform rating on the shares. The price target reduction reflects a shift in the close of the acquisition of ANB Holdings to May 1 from June 30, the analyst tells investors in a research note. The firm continues to view risk-reward positively and expects the company will reap the benefits of the coming de-regulatory environment via a series of M&A transactions in coming years.