BUZZ-US bank ACNB rises after Raymond James starts coverage with 'outperform'

Reuters03-21

** Community bank ACNB Corp's ACNB.O shares rise 1.6% to $41.89

** Raymond James initiates coverage of ACNB with an "outperform" rating and $47 PT, a 14% upside to stock's last close

** Brokerage says ACNB possesses a "longstanding and enviable core deposit franchise" in Pennsylvania, which coupled with strong growth in higher-yielding commercial lending segments, has contributed to above-peer profitability in recent years

** Adds that it expects ACNB to be an active acquirer over time given its robust capital base

** Proven track record of solid credit performance through various cycles drives confidence in its performance through a period of potential economic uncertainty - brokerage

** All four brokerages covering the stock rate it "buy" or higher; median PT is $48.50 - data compiled by LSEG

** ACNB stock up 5% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

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

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