WTFC - Wintrust Financial stock climbs 4.0% as Truist upgrades to Buy

Wintrust Financial (WTFC) jumps 4.0% after Truist analyst Michael Young upgrades the stock to Buy from Hold on the view that the bank's loan growth will outperform its peers and its multiple will expand and earnings estimates adjusted upward in a higher rate environment."Further, an infrastructure bill would likely benefit sentiment, business activity, and borrowing needs in the Midwest," Young writes in a note to clients.Increases price to target to $92, or 15.3x 2022 EPS and 1.7x TBV, compared with peers at 13.8x and 1.9x, respectively.Young's Buy rating is more bullish than the Neutral Quant rating and lines up with the average Wall Street rating of Bullish (6 Very Bullish, 2 Bullish, 4 Neutral).SA contributor Sheen Bay Research explains why it sees loan growth driving Wintrust earnings this year.

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Wintrust Financial stock climbs 4.0% as Truist upgrades to Buy