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.
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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