Analyst Catherine Mealor at Keefe Bruyette & Woods was impressed enough by Avenue Financial Holdings' first-quarter earnings report to upgrade the stock to 'outperform' from 'market perform.' Mealor also has boosted her price target for newly public Avenue to $14 from $13.50. Avenue shares (Ticker: AVNU) closed Tuesday at $12.11.
Analysts at Sterne Agee have launched coverage of newly public Avenue Financial Holdings with a 'buy' rating and a price target of $15. That's more optimistic than their peer at Keefe Bruyette & Woods, who on Monday rated Avenue a 'market perform' and sees the stock climbing to $13.50 in the coming year. On a soggy day for the markets, Avenue (Ticker: AVNU) was down about 0.5 percent to $12.55 early in the afternoon.
Keefe Bruyette & Woods analyst Catherine Mealor will get the credit for being the first to launch coverage of Avenue Financial Holdings' newly listed shares. Mealor on Monday said she rates the stock a 'market perform' and sees it as being "well-positioned to continue to deliver exceptional growth and improved profitability." But she doesn't see it climbing very quickly just yet: Her $13.50 price target is less than five percent above where Avenue (Ticker: AVNU) opened this morning's session.
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