JPMorgan upgrades Forbright stock rating on rate hike benefit

JPMorgan upgraded Forbright Inc's stock rating from Neutral to Overweight, citing the recent rate hike as a catalyst for improved earnings. The firm set a price target of $22.00, implying roughly 29% upside potential from the current trading price of $17.03, which is near its 52-week low of $16.81. Forbright is well-positioned to benefit from higher rates due to the majority of its loans being tied to floating rates, and the company's recent promotional savings rate increase further supports this outlook.

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