As previously reported, Sandler O'Neill analyst Stephen Scouten upgraded Atlantic Capital to Buy from Hold after the company announced a deal to sell 11 Tennessee and 3 Georgia branch locations, which he believes will allows it to shift its focus back to its legacy Atlanta franchise. He thinks management made the right decision and is increasing franchise value "on day one" by concentrating the bank within the growing Atlanta MSA, Scouten tells investors. He also sees the excess capital generated being deployed into several accretive investments. Scouten raised his price target on Atlantic Capital shares to $20 from $16.50.