Shore Bancshares upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette upgraded Shore Bancshares (SHBI) to Outperform from Market Perform with a price target of $20, up from $16. The shares still trade at a discount to the bank group and even with the recent rally have underperformed since 2022, the analyst tells investors in a research note. The firm believes 2025 “will be a turning point in the story.” With improved net interest margin, growth, and efficiency, plus with the potential for further upside in an acquisition, Shore Bancshares “is a stock to own heading into 2025,” contends Keefe.