Janney Montgomery Scott upgraded South Atlantic Bancshares (SABK) to Buy from Neutral with a fair value estimate of $17.25, up from $16.25. The firm cites valuation for the upgrade. It believes South Atlantic should narrow its valuation gap and trade more in line with the peer group, given the company’s solid fundamentals, above-average growth, and attractive coastal South Carolina franchise.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SABK: