UPDATE: Keefe, Bruyette & Woods Upgrades Home Bancshares On Good Potential Upside

In a report published Friday, Keefe, Bruyette & Woods analyst Brian Zabora upgraded the rating on Home Bancshares HOMB from Market Perform to Outperform, and reiterated the $35.00 price target. In the report, Keefe, Bruyette & Woods noted, “We are upgrading the shares of HOMB to Outperform from Market Perform. Our target price of $35 represents 22% potential upside from last night's closing price. The shares are down 23% year-to-date, underperforming the KRX decline of 10%. With the valuation premium to peers just 11% currently, down from 28% in February, and our expectations of superior profitability we believe the current share price provides an attractive entry point.” Home Bancshares closed on Thursday at $28.70.