BUZZ-Mid Penn Bancorp rises after Raymond James starts coverage with 'outperform'

Mid Penn Bancorp, Inc.

Mid Penn Bancorp, Inc.

MPB

0.00

** Shares of lender Mid Penn Bancorp MPB.O rise 1.23% to $34.66 after Raymond James initiates coverage at "outperform"

** Brokerage says the bank is positioned to improve profitability from stronger organic loan growth, driven by a larger platform and seasoned banker additions in the Philadelphia market

** Adds that earnings growth should also be supported by core net interest margin expansion, wealth management optimization and controlled expenses

** Sets PT of $38, a 10.9% upside to the stock's last close

** Two of two analysts rate stock "strong buy" or "buy"; their median PT is $35.5 - data compiled by LSEG

** Including session's move, stock up 11.9% YTD



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