First Busey price target lowered to $24 from $26 at Raymond James

Raymond James lowered the firm’s price target on First Busey to $24 from $26 and keeps an Outperform rating on the shares. The firm continues to view the risk-reward attractively with the bank’s strong deposit base, solid profitability, and improving fee income base, and says steps taken to improve the credit risk profile of the bank position the bank well heading into a potential deterioration in the macroeconomic environment.