Raymond James upgraded Brookline Bancorp (BRKL) to Strong Buy from Market Perform with a $16 price target, following its merger-of-equals with Berkshire Hills (BHLB). The merger creates an attractive northeast franchise with significantly stronger profitability on both a GAAP and cash basis, and the combination of profitability and a strong capital base should afford management greater strategic flexibility to deploy capital via organic growth, dividends, buybacks, and acquisitions, the analyst tells investors in a research note.
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Read More on BRKL:
- Brookline Bancorp upgraded to Strong Buy from Market Perform at Raymond James
- Berkshire Hills Bancorp price target lowered to $31 from $32 at RBC Capital
- Berkshire Hills Bancorp upgraded at Piper Sandler after Brookline merger news
- Brookline Bancorp and Berkshire Hills Merge for Growth
- Brookline to merge with Berkshire in all-stock transaction valued at $1.1B
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
