It depends on wether you have longer legs & short torso or short legs & longer torso. I am 6ft 1 & ride a Large Bandit & sold my Medium Covert. They are a similar size, & both 2012 frames. I have shorter legs & longer torso so run 65mm stem. A small Bandit would be a small frame!! A medium Bandit similar size to a small Covert.
Hope this helps :-)