DA Davidson & Co Raises PT on Pacific Continental to $11

DA Davidson raises its price target on Pacific Continental

from $10 to $11 in a research report out today. Currently, DA Davidson has a Buy rating on Pacific Continental. In the report, DA Davidson writes, "Perhaps as a result of poor overall Q4 results, PCBK's shares have essentially been flat since early October – while the average bank stock in our universe is up 20% over the same time frame. Despite Q4's misstep, we view PCBK's valuation as attractive and expect improved operating results in 2012. Our rating on PCBK is BUY." Shares of Pacific Continental closed today $9.01, up 2.62% from yesterday's close.