Enterprise Financial price target raised to $49 from $48 at DA Davidson

DA Davidson analyst Jeff Rulis raised the firm’s price target on Enterprise Financial to $49 from $48 and keeps a Buy rating on the shares. The company’s net charge-offs in Q4 understandably stole the attention away from generally solid results that included LQA loan growth exceeding 10%, positive deposit mix change, ramping fee income and indications of a stabilizing net interest margins, though the management made an effort to call the latest credit issues “isolated and irregular”, which returns the focus to an upward earnings trajectory for Enterprise Financial should overall asset quality trends improve, the analyst tells investors in a research note.