Deutcshe Bank has raised its price target from $14 to $15 on Associated Bank Corp (NASDAQ: ASBC), where it pointed to efficiency initiatives and declining BSA costs. The firm maintained a Buy rating.
In the report Deutcshe Bank wrote, “We recently hosted several meetings with ASBC’s CEO/CFO, and came away with greater confidence in ASBC’s ability to capture a small bank deal over the next year, and were encouraged by management’s focus on reducing the bank’s efficiency ratio meaningfully to the low 60%s over the longer term.”
Associated Bank Corp closed Monday at $14.86.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Deutsche Bank
Posted in: Analyst Color, Price Target, Analyst Ratings