BUZZ-Columbia Banking rises after Raymond James upgrades to 'strong buy'
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Columbia Banking shares rose 2% to $26.58 after Raymond James upgraded the stock to 'strong buy' from 'outperform' and raised the price target to $31 from $27, indicating a 19% upside. The upgrade followed investor meetings post-Pacific Premier Bancorp deal, addressing misperceptions about M&A and capital return timing. Raymond James anticipates a pause in M&A, which could enhance EPS growth, and suggests capital return is likely soon. Currently, two analysts rate the stock as buy or higher, while ten hold, with a median price target of $28.
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