Raymond James upgraded Community Bank System (CBU) to Strong Buy from Market Perform with a $67 price target The double upgrade reflects the improved earnings outlook for Community’s bank and continued strong growth from its three fee based-businesses, employee benefits, insurance, and wealth management, the analyst tells investors in a research note. The firm says the company’s Q3 results were modestly below expectations partly due to expenses, which “masked positive revenue trends.” With Community Bank’s revenue growth set to accelerate in 2025 due to net interest margin expansion and fee income growth, its earnings and profitability “should materially improve from current levels,” contends Raymond James.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- 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 CBU:
- Community Bank upgraded to Strong Buy from Market Perform at Raymond James
- Community Bank System reports Q3 operating EPS 88c, consensus 88c
- Community Bank (CBU) Q3 Earnings Cheat Sheet
- Community Bank Elevates Durkee to Chief Accounting Officer
- Community Bank System Welcomes New Independent Director