** Brokerage Raymond James raises regional U.S. bank South State SSB.N to "strong buy" from "outperform"; cuts PT to $115 from $120
** "Credit protection from marking Independent Bank's balance sheet along with legacy SSB’s strong underwriting track record should assuage fears if an economic downturn materializes," says brokerage
** SSB acquired Texas-based smaller rival Independent Bank Group for about $2 bln in May last year
** Brokerage says net interest margin expansion from deal synergies should provide relatively less EPS downside versus many peers
** As of last close, SSB shares down 7.3% YTD, compared with a 4.2% decline in S&P 500 .SPX index
(Reporting by Ateev Bhandari in Bengaluru)
((Ateev.Bhandari@thomsonreuters.com; ))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.