First Interstate price target raised to $30 from $25 at Wells Fargo

Wells Fargo raised the firm’s price target on First Interstate to $30 from $25 and keeps an Equal Weight rating on the shares. Wells says net interest income inflection is here, albeit in a less meaningful capacity versus peers. Trends should continue accelerating through year-end, although will be somewhat muddied by a planned DDA outflow and a coming charge-off, the firm adds.