Stifel Nicolaus initiates its coverage on Bank of Marin Bancorp BMRC with a Buy rating and a price target of $43 a share.
Stifel Nicolaus says, "We are initiating coverage of Bank of Marin Bancorp with a Buy rating and $43 target price. We believe the shares possess an enviable combination of
favorable operating markets, strong fundamentals, profitability, and excellent
asset quality while trading at a discounted valuation. …Based on our 2013 EPS estimate of $3.49, the shares trade at 10.2x, compared to the median multiple for its West peer of
12x. Our $43 target represents 21% potential upside based on a 12.4x to our 2013 EPS estimate of $3.49."
BMRC closed at $35.65 on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in