Rafay Khalid, CFA at S&P released a very bullish report on PBCT after earnings and the announcement of the two deals. He has a price target of $20. S&P is giving PBCT 5 stars out of 5. He has god analysis.
"Our 12-month target price of $20 is based on a historical average tangible book value ratio of 1.76X applied to our 2011 tangible book value per share forecast of $11.51."