BUZZ-Raymond James upgrades FirstSun Capital to 'outperform' after HomeStreet deal fails

Reuters11-19

BUZZ-Raymond James upgrades FirstSun Capital to 'outperform' after <a href="https://laohu8.com/S/HMST">HomeStreet</a> deal fails

** Raymond James upgrades regional lender FirstSun Capital Bancorp FSUN.O to "outperform" from "market perform"; assigns $42 price target, a 15.4% upside to stock's last close

** Brokerage says a standalone FSUN will be able to deliver strong mid-to-high single-digit loan growth in coming years while improving its profitability profile

** Upgrade follow's announcement that FSUN and peer HomeStreet HMST.O have mutually agreed to walk away from their beleaguered buyout deal, Raymond James says, adding that it was not a surprise given both companies were asked last month to withdraw their merger applications

** Raymond James expects FSUN to possess a cleaner core deposit base as a heavy commercial and industrial (C&I) bank with a strong presence in high-growth markets

** FSUN should benefit from improved liquidity by being added to the Russell 2000 index .RUT in 2025

** Stock up 7.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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