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Fly News Breaks for November 28, 2017
Nov 28, 2017 | 07:14 EDT
As reported earlier, SunTrust analyst Jennifer Demba upgraded Iberiabank to Buy from Hold and raised her price target to $85 from $80. Demba says that the management is now more focused on improving return-on-average-assets following a substantial Q3 earnings miss. The analyst adds that December's outlook for FY18 may include more cost saving plans while added storm provisioning provides additional credit cost cushion. Demba also notes "compelling valuation" for Iberiabank, which trades at 12.8-times FY18 EPS consensus versus a peer median of 15.1-times.
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