CNB Financial ticks up after Raymond James starts coverage at 'outperform'

Shares of CNB Financial Corporation (CCNE.O) were marginally up after Raymond James started coverage with an "outperform" rating.

"We maintain confidence in its (CCNE) ability to drive solid profitability and growth while maintaining sound credit quality, leaving risk/reward as attractive with shares currently trading at a discount to peers" - Raymond James.

The brokerage added that CCNE's conservative underwriting track record, diversified portfolio and low current loss content support a favorable credit risk profile.

Raymond James set a price target of $39, implying about 15.1% upside to the stock's last close.

Three of five analysts rate the stock "buy" or higher and two rate it "hold"; their median PT is $191 - data compiled by LSEG.

Including the session's move, the stock is up 29.8% YTD.