US lender Bancorp rises after Raymond James upgrades to 'strong buy'

Regional lender Bancorp's TBBK.O shares rise 1.4% to $63.66 premarket

Raymond James upgrades TBBK to "strong buy" from "outperform" following investor meetings

Brokerage says it left the meetings more comfortable on credit trends, an area where it feels concerns on the bank's real estate bridge lending profile remain overblown

Says continued progress towards resolution could result in a massive short squeeze and boost share price

Attractive valuation and capital return potential makes risk-reward favorable, Raymond James says

Two of 3 brokerages rate the stock "buy" or higher and 1 "hold"; median PT $68 - data compiled by LSEG

As of last close, TBBK stock up 19.3% YTD