Seaport Research raised the firm’s price target on Independent Bank (INDB) to $72 from $65 and keeps a Buy rating on the shares. The stock is down following the company’s Q3 EPS miss and office credit concerns, which represents a buying opportunity, the analyst tells investors. The company still posted strong earnings and remains well-positioned on credit, the firm adds.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INDB:
- Independent Bank upgraded to Strong Buy from Market Perform at Raymond James
- Independent Bank price target raised to $65 from $62 at Keefe Bruyette
- Independent Bank Reports Q3 Profit Amid Challenges
- Independent Bank reports Q3 EPS $1.01, consensus $1.05
- INDB Earnings Report this Week: Is It a Buy, Ahead of Earnings?