Raymond James Maintains Outperform on First Merchants, Lowers Price Target to $33
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Daniel Tamayo has maintained an 'Outperform' rating on First Merchants (NASDAQ:FRME), but lowered the price target from $36 to $33.
October 30, 2023 | 11:35 am
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First Merchants' price target has been lowered by Raymond James from $36 to $33, though the 'Outperform' rating is maintained.
The lowering of the price target by Raymond James could potentially create a negative sentiment among investors, which might put downward pressure on the stock price. However, the maintained 'Outperform' rating indicates that the analyst still sees potential upside, which could counterbalance the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100