JPMorgan Upgrades Forbright to 'Overweight', Sees 29% Upside

Financial services company Forbright (NASDAQ:FRBT) has received an upgrade from investment analysts at JPMorgan Chase & Co. to 'overweight' from a previous 'neutral' rating.

The brokerage has set a price target of $22.00, which suggests a potential upside of 29.18% from the stock's current price.

This is not Forbright's first upgrade in recent weeks. Other firms, including TD Cowen and The Goldman Sachs Group, have also issued positive ratings on the company.

Forbright has been the subject of multiple reports, with five investment analysts rating it 'buy', one assigning a 'hold' rating, and two giving a 'sell' rating.