Old National Bancorp price target raised to $28 from $23 at Keefe Bruyette

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.