** Shares of community bank ACNB Corp ACNB.O jump 8% to $44.25, hitting their highest since December 18
** Piper Sandler upgrades ACNB shares to "overweight" from "neutral", following the bank's $73.5 million acquisition of rival Traditions Bancorp TRBK.PK
** Brokerage raises PT on ACNB to $50 from $37, a 22% upside to stock's last close
** Brokerage says Traditions' deal brings significant boost to EPS; adds that it looks for a return to premium valuation for ACNB, as investors better appreciate the earning power of the combined franchise
** ACNB stock currently trades at a slight discount to peers - brokerage
** All three brokerages covering the stock rate it "buy" or higher, with the median PT of $50, according to data compiled by LSEG
** ACNB stock up 11% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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