Raymond James upgraded Camden National (CAC) to Outperform from Market Perform with a $50 price target The firm came away from recent meetings with CEO Simon Griffiths, CFO Mike Archer, and Chief Experience and Marketing Officer Renee Smyth impressed by management’s focus on growing and improving Camden National’s already attractive franchise across New England, and its goal to increase profitability to the top quartile of banks, the analyst tells investors in a research note. Raymond James expects a material improvement in earnings for 2025 and 2026, driven by net interest margin expansion from Fed rate cuts and fixed rate asset repricing, combined with the accretive acquisition of Northway Financial.
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