Ameris Bancorp price target raised to $48 from $38 at Truist

Truist raised the firm’s price target on Ameris Bancorp to $48 from $38 and keeps a Buy rating on the shares. The analyst is boosting the firm’s FY23 EPS view by 13c to $4.13 and its FY24 view by 25c to $4.45 to reflect higher net interest income and higher fee income. While deposit costs and funding pressures will likely continue, Truist sees relatively more stability in the second half of the year, resulting in only a “modest decline” in sequential net interest income, the analyst tells investors in a research note.