Benchmark analyst Brett Rabatin initiated coverage of First Financial with a Buy rating and $39 price target. The firm rolled out coverage on 12 banks with a bullish sector view. Despite uncertainty around inflation and interest rates, the future economy, and geopolitical risk, the banks are seeing solid profitability and revenue growth tailwinds, the analyst tells investors in a research note. Benchmark also highlights the \"friendly\" regulatory backdrop and acquisition potential for its positive stance. Among the mid-caps, the firm has the highest near-term conviction on Pinnacle Financial and First Financial. Among the small-caps, its highest conviction names are Equity BancShares, South Plains Financial, and SmartFinancial.
