Wunderlich Securities Maintains Hold Rating and $11 PT on Sierra Bancorp

A report from Wunderlich Securities reiterates its Hold rating and $11 price target on Sierra Bancorp

. The report states, “Although Sierra's capital ratios remain very strong, we continue to remain cautious with respect to credit quality at this point in the cycle, as credit challenges will likely remain elevated over the next 12 to 18 months given the slow and uneven economic recovery in Central California”. BSRR closed yesterday at $10.68.