City Holding Company (CHCO) has been upgraded today by the securities research analysts at investment firm Standpoint Research which upgraded City Holding from a “hold” rating to “buy.” Standpoint bases their “buy” rating for City Holding due to valuation of the company. They also placed a price target of $38 dollars on CHCO. Volatility of CHCO has outstripped last Friday’s entire daily range during trading today.
City Holdingis currently trading below its 50 & 200-day moving averages, so today’s buy rating from Standpoint is nearly guaranteed not to irritate shareholders of the company. 2011 is currently a down year for the company, however.
The City Holding Company is a bank holding company headquartered in Charleston, West Virginia. The Company conducts its principal activities through its wholly-owned subsidiary, City National Bank of West Virginia (“City National”). The company has market capitalization of $480,000,000 and 15,505,000 shares outstanding. CHCO has a 52-week high of $38.68 with the low being $26.50 dollars.