Market Overview

UPDATE: Wunderlich Securities Downgrades Renasant Corporation to Hold on Corporation

Share:

Wunderlich Securities reduced its rating on Renasant Corporation (NASDAQ: RNST) from Buy to Hold but raised its price target from $18 to $20.

Wunderlich Securities noted, "Although we are raising our price target by $2 to $20, RNST shares appear fairly valued at 1.7x TBV/share and 16.6x our 2013 EPS estimate. RNST shares have increased 27% since the end of the second quarter, a period in which the company reported strong 2Q12 results that included robust loan growth across all regions and all loan types. While we expect the company to continue producing strong results in the coming quarters, such growth is largely discounted in the current share price in our opinion, and the lack of a near-term catalyst to drive shares meaningfully higher moves us to the sidelines at this point."

Renasant Corporation closed at $19.94 on Friday.

Latest Ratings for RNST

DateFirmActionFromTo
Aug 2019MaintainsHold
Aug 2019Initiates Coverage OnNeutral
Jun 2019Initiates Coverage OnHold

View More Analyst Ratings for RNST
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (RNST)

View Comments and Join the Discussion!

From Earlier: Pacira Says Statistical Significance Seen at Primary Endpoints

Benzinga's Top Initiations