Keefe, Bruyette & Woods Upgrades Macatawa Bank to Outperform, Raises Price Target to $15
Portfolio Pulse from Benzinga Newsdesk
Keefe, Bruyette & Woods analyst Damon Delmonte upgraded Macatawa Bank (NASDAQ:MCBC) from Market Perform to Outperform and increased the price target from $12 to $15.
April 29, 2024 | 9:23 am
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Macatawa Bank was upgraded from Market Perform to Outperform by Keefe, Bruyette & Woods, with a price target increase from $12 to $15.
The upgrade to Outperform and the increase in price target to $15 by a reputable analyst firm like Keefe, Bruyette & Woods can significantly boost investor confidence in Macatawa Bank. This positive analyst action is likely to lead to a short-term increase in the stock price as market participants react to the new rating and price target, reflecting an optimistic outlook on the bank's performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100