The Bancorp (TBBK) saw its stock price soar by 5.91% on Friday during intraday trading. This strong upward movement appears to be driven by a positive analyst report from KBW.
In a research note released today, analyst Tim Switzer from KBW maintained a "Buy" rating on TBBK shares, citing a price target of $66.00. This bullish outlook from the respected financial firm likely contributed to the surge in TBBK's stock price as investors reacted favorably to the analyst's recommendation.
With the KBW report reaffirming confidence in The Bancorp's prospects and setting a compelling upside target, traders seemingly piled into the stock, propelling its price higher by nearly 6% in intraday trading. The positive analyst coverage appears to be a key driver behind TBBK's substantial gains on Friday.
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