Keefe, Bruyette & Woods Maintains Market Perform Rating for TriCo: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Keefe, Bruyette & Woods has maintained its Market Perform rating for TriCo Bancshares (NASDAQ:TCBK) but lowered its price target from $44.00 to $42.00. TriCo's shares are currently trading at $38.27, and the new price target suggests a potential upside of 9.75%. TriCo Bancshares operates as a bank holding company for Tri Counties Bank, offering various banking services primarily in California.
January 26, 2024 | 5:00 pm
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Keefe, Bruyette & Woods reaffirmed their Market Perform rating on TriCo Bancshares and lowered the price target to $42, indicating a potential 9.75% increase from the current price.
While the reaffirmation of the Market Perform rating suggests a neutral outlook on the stock, the reduction in the price target could be perceived negatively by the market. However, the new target still represents an upside, which might balance out the negative impact. The confidence level is not at the maximum due to the inherent uncertainty in market reactions to analyst ratings and price target adjustments.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100