Standpoint Research Upgrades City Holding (CHCO) to Buy

Standpoint Research upgraded City Holding (NASDAQ: CHCO) from Hold to Buy with a $38 price target.

"We went in-and-out of CHCO last year. The shares were closed out on December 27, 2010. The shares have under-performed the S&P by nearly 2000 bps since our downgrade and are once again undervalued at 12X earnings, 1.4X book value and 1.7X tangible book value. As the market decline continues we are looking to reinstate names that were closed out with gains and come back down to where they were when they were originally recommended."


For more ratings news on City Holding click here and for the rating history of City Holding click here.

Shares of City Holding closed at $30.93 yesterday.

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