RBC Capital analyst Jon Arfstrom raised the firm’s price target on Old National Bancorp (ONB) to $25 from $24 and keeps a Sector Perform rating on the shares. Old National announced the acquisition of Bremer Financial, which will add scale in the attractive Twin Cities and take pro forma assets to about $70B, the analyst tells investors in a research note. The firm has confidence in management’s ability to receive a timely regulatory approval, integrate the transaction and achieve the favorable merger assumptions.
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Read More on ONB:
- Old National Bancorp price target raised to $28 from $23 at Keefe Bruyette
- Old National upgraded to Strong Buy from Market Perform at Raymond James
- Old National Bancorp price target raised to $26 from $24 at Barclays
- Market should respond favorably to Old National deal, says Keefe Bruyette
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