UPDATE: Stifel Nicolaus Resumes Buy, $25 PT on Berkshire Hills Bancorp
Stifel Nicolaus resumes its coverage on Berkshire Hills Corp (NASDAQ: BHLB) with a Buy rating and a price target of $25 as the company'e earnings power suggests potential for share price appreciation.
Stifel Nicolaus says, "We view the Berkshire Hills story as having many positive attributes including: 1) a high performance-oriented culture; 2) a well- devised consolidation strategy; 3) organic growth potential independent of the economy; and 4) a forward thinking approach to retail branch banking. We think Berkshire Hills' ability to transact accretive acquisitions will help to drive the bank's future earnings profile to a level more favorable than some of its peers."
BHLB closed at $21.83 on Monday.
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