DA Davidson upgraded First Interstate (FIBK) to Buy from Neutral with a price target of $42, up from $32. The firm says the bank’s new CEO “represents a meaningful positive catalyst.” First Interstate’s renewed focus on organic growth, improving reporting consistency and credit results, along with a pivot away from acquisitions, should be shareholder friendly, the analyst tells investors in a research note. DA believes the bank’s “attractive market dynamics” are now more likely to be revealed.
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Read More on FIBK:
- Buy/Sell: Wall Street’s top 10 stock calls this week
- First Interstate downgraded to Underweight from Equal Weight at Barclays
- First Interstate price target lowered to $36 from $38 at Piper Sandler
- First Interstate BancSystem Reports Q3 2024 Financial Results
- First Interstate reports Q3 EPS 54c, consensus 58c
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