Keefe Bruyette raised the firm’s price target on Old National Bancorp (ONB) to $28 from $23 and keeps an Outperform rating on the shares. The firm likes the strategic and financial aspects of the proposed Bremer deal. An “inexpensive stock has become even more attractive based on the significant accretion,” the analyst tells investors in a research note. Keefe believes Old National’s balance sheet remains best in class.
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 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
- Old National Bancorp 19M share Spot Secondary priced at $21.00