Old National Bancorp price target lowered to $21 from $22 at Stephens

Stephens analyst Terry McEvoy lowered the firm’s price target on Old National Bancorp to $21 from $22 and keeps an Overweight rating on the shares. Management gave “a conservative 2024 outlook” that assumes a low 20% total deposit beta by the end of the year and loan growth of 4%-6%, according to the analyst, who calls Old National “an attractive bank to own today, especially for an investor who does not fully agree with a soft landing economic scenario.”