** Shares of community bank Financial Institutions FISI.O rise as much as 3.5%; last up 2.4% at $27
** KBW upgrades FISI to "outperform" from "market perform"; raises PT to $34 from $29, a 28.9% upside to stock's last close
** Brokerage says the upgrade is predicated on a valuation reset being on the horizon for FISI
** Adds that discount is unwarranted and "now is the time to own FISI shares" as the bank's recent balance sheet restructuring has strengthened earnings forecast and profitability
** FISI in December raised $100 mln for balance sheet restructuring
** Recent capital raise and balance sheet restructuring helped remove overhangs of below-peer profitability and lower capital level, two factors that have long been viewed as valuation headwinds for the shares — KBW
** Two of three brokerages rate the stock "buy" and one "hold"; their median PT is $33 — LSEG
** FISI stock jumped 28.1% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。