HomeStreet price target raised to $16 from $15 at Wedbush

Wedbush raised the firm’s price target on HomeStreet to $16 from $15 and keeps a Neutral rating on the shares. The firm notes HomeStreet reported a challenging quarter as funding pressures weighed on net interest margin and net interest income. Wedbush believes the previously announced merger with FirstSun should provide relief on fundamentals once the deal closes later this year.