Renasant Is On A 'Better Path' After The FBMS Deal, Says Bullish Analyst
Portfolio Pulse from Priya Nigam
Renasant Corp (NYSE:RNST) shares dropped after announcing a public offering and a deal with The First Bancshares Inc (NYSE:FBMS). Piper Sandler upgraded RNST from Neutral to Overweight, raising the price target from $35 to $40, citing improved scale and profitability.
August 05, 2024 | 4:03 pm
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POSITIVE IMPACT
The First Bancshares Inc is involved in a deal with Renasant Corp, which has been positively received by analysts. The deal is expected to improve Renasant's scale and profitability.
FBMS is part of a strategic deal with Renasant Corp, which has been positively received by analysts. This could lead to improved scale and profitability for Renasant, indirectly benefiting FBMS.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Renasant Corp shares fell after announcing a public offering and a deal with The First Bancshares. Piper Sandler upgraded RNST from Neutral to Overweight, raising the price target from $35 to $40, citing improved scale and profitability.
The public offering and the FBMS deal initially caused RNST shares to drop. However, the upgrade from Piper Sandler and the raised price target indicate a positive outlook due to improved scale and profitability.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100