Baird downgraded Associated Banc-Corp to Neutral from Outperform with an unchanged price target of $27. The firm says that with most banks hitting 52-week highs, and sentiment shifting “in one of the biggest U-turns we have ever seen,” its valuation framework and through-the-cycle thought process suggests more limited upside in most bank names. Given the recent move in the stock, the firm feels Associated Banc-Corp’s risk/reward trade-off is balanced here.
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Read More on ASB:
- Associated Banc-Corp price target lowered to $22 from $24 at Jefferies
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- Associated Banc-Corp price target lowered to $22 from $24 at Barclays
- Associated Banc-Corp files automatic mixed securities shelf
- Associated Banc-Corp Engages Investors with Strategic Presentation
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