1st Source price target raised to $56 from $53 at DA Davidson

DA Davidson analyst Peter Winter raised the firm’s price target on 1st Source to $56 from $53 and keeps a Neutral rating on the shares. The company’s Q4 results were “solid” with strong credit trends and modest growth in net interest income, the analyst tells investors in a research note. The bank’s CET1 ratio also declined 9bps to 13.22%, which is near the top end of its peers, the firm added.