Old National Bancorp price target raised to $27 from $26 at Barclays

Barclays analyst Jared Shaw raised the firm’s price target on Old National Bancorp (ONB) to $27 from $26 and keeps an Overweight rating on the shares. The firm is optimistic on the positioning of U.S. mid cap banks into 2025. The industry is poised for tailwinds with growth, net interest margin, efficiency and regulation, the analyst tells investors in a research note. Additionally, credit performance has been better than feared a year ago, with banks building reserves and limiting losses, adds Barclays. With a “supportive macro backdrop” for growth and mergers, along with optimism around net interest margin, Barclays is “bullish on the group into 2025.”