Stephens analyst Matt Olney raised the firm’s price target on Business First Bancshares to $24 from $23 and keeps an Overweight rating on the shares. The company’s Q3 results were highlighted by strong NII and good cost controls, both of which drove a PPNR beat, the analyst tells investors. Stephens views the company as “uniquely positioned” to drive NIM expansion in 2024. In 2024, the firm expects the Bank to experience steady loan growth and maintain positive NII and PPNR year-over-year growth.
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