UPDATE: Keefe, Bruyette & Woods Upgrades WesBanco to Outperform, Raises PT Following Management Meeting

In a report published Friday, Keefe, Bruyette & Woods analyst Catherine Mealor upgraded the rating on

from Market Perform to Outperform, and raised the price target from $33.00 to $34.00. In the report, Keefe, Bruyette & Woods noted, “WSBC shares have underperformed its peers year to date (down 12% versus the KRX down 3%) and continue to trade at a discount to peers (at 12.3x 2015 EPS). We believe WSBC shares should trade more in-line with peers as returns are now above peer levels and we believe there are a number of catalysts to profitability in 2014 including growth momentum around the Marcellus Shale region, further M&A and team lift out opportunities and we are excited about the expertise and energy the new CEO Todd Clossin will bring to the bank. Increasing our PT to $34.” WesBanco closed on Thursday at $28.75.