I would carry openly.
I've heard the argument over and over again about becoming a target if open carrying but I still question this theory. It would seem to me that if a BG walked in a bank and saw a LEO, they would be deterred from proceeding further (assuming said BG isn't a crackhead). I think carrying open would be similar but not the same.
My CHL instructor emphasized that bad guys dislike two things:
1. Getting caught
2. Getting hurt
I'd say that open carry may indicate to a BG a large possibility that #2 may become a reality should they act like a fool. (again, assuming they are not a crackhead)