WesBanco price target raised to $42 from $35 at DA Davidson

DA Davidson analyst Manuel Navas raised the firm’s price target on WesBanco (WSBC) to $42 from $35 and keeps a Buy rating on the shares after its Q2 results. The company is opportunistically expanding to faster growing contiguous markets with the acquisition of Premier Financial (PFC), but while the stock lagged the sector due to the 20% discount in announced capital raise, size of deal, and the EPS miss, this is an overreaction that is offering an “attractive opportunity” to buy shares for an above-peer grower that just “turbocharged profitability”, the analyst tells investors in a research note.