Stephens analyst Russell Gunther raised the firm’s price target on South State to $101 from $88 and keeps an Equal Weight rating on the shares following operating EPS of $1.79 that beat consensus of $1.54, which the firm calls” one of the stronger prints in our coverage universe this quarter.” The pro forma financial outlook “remains compelling,” says the firm, which favors South State’s use of excess capital to add “another dynamic growth market to its southeast stable.”
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