Janney Montgomery Scott upgraded Glacier Bancorp (GBCI) to Buy from Neutral with a $48 fair value estimate. The shares could trade 16% higher in the next 12 months on improving earnings power from remixing the balance sheet, low credit costs and potential earnings from future acquisitions, the analyst tells investors in a research note. The firm believes the market has “completely ignored” Glacier’s outlook for net interest margin to expand to 3.20% to 3.25% for 2025.
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