Standpoint Research Initiates Prosperity Bank At Accumulate (PRSP)

Standpoint Research has initiated coverage of Prosperity Bank PRSP at Accumulate with a $45 price target. Accumulate is the firm's second highest rating. Standpoint analyst Ronnie Moas wrote, "because of the recent share price move, we can only attach our second-highest ranking to this name. If the shares come back down to $33-$34 in a market correction, we would raise our rating on this name."