RBC Capital analyst Jon Arfstrom raised the firm’s price target on Old National Bancorp (ONB) to $25 from $24 and keeps a Sector Perform rating on the shares. Old National announced the acquisition of Bremer Financial, which will add scale in the attractive Twin Cities and take pro forma assets to about $70B, the analyst tells investors in a research note. The firm has confidence in management’s ability to receive a timely regulatory approval, integrate the transaction and achieve the favorable merger assumptions.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ONB:
- Old National Bancorp price target raised to $28 from $23 at Keefe Bruyette
- Old National upgraded to Strong Buy from Market Perform at Raymond James
- Old National Bancorp price target raised to $26 from $24 at Barclays
- Market should respond favorably to Old National deal, says Keefe Bruyette
- Old National Bancorp Merges with Bremer Financial