Metropolitan Bank Holding Corp. (MCB) saw its stock price soar 5% during intraday trading on Thursday, reflecting strong investor buying interest.
The sharp upward move followed bullish analyst actions, including Keefe, Bruyette & Woods (KBW) raising its price target on the stock to $105 from $90. KBW also maintained its Buy rating on the bank holding company, while other analysts reaffirmed positive outlooks.
Such analyst upgrades and price target increases typically signal confidence in a company's future earnings potential and often trigger positive market reactions as investors adjust their valuation expectations.
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