Keefe, Bruyette & Woods Maintains Outperform Rating for Luther Burbank: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Keefe, Bruyette & Woods has maintained its Outperform rating for Luther Burbank (NASDAQ:LBC) but lowered its price target from $12.75 to $11.00. Luther Burbank's shares are currently trading at $8.91, and the new price target suggests a potential upside of 23.46%. Luther Burbank Corp is a bank holding company specializing in real estate secured lending and offers various banking products and services.
November 21, 2023 | 5:00 pm
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Keefe, Bruyette & Woods reaffirmed their Outperform rating on Luther Burbank while reducing the price target from $12.75 to $11.00, indicating a significant potential upside from the current price of $8.91.
The maintenance of an Outperform rating by a reputable analyst firm like Keefe, Bruyette & Woods generally instills confidence in investors and can be positive for the stock price. However, the reduction in the price target may slightly temper expectations. Given the substantial potential upside indicated by the new price target, the short-term impact on Luther Burbank's stock is likely to be positive, assuming market conditions do not change significantly.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100