Peoples Bancorp price target raised to $35 from $32 at DA Davidson

DA Davidson analyst Russell Gunther raised the firm’s price target on Peoples Bancorp to $35 from $32 and keeps a Buy rating on the shares. The analyst cites the firm’s latest discussions with the company’s management regarding trends in credit, funding, and M&A with deposit strength “basically assumed”. Peoples Bancorp is well-positioned for both a higher for longer rate environment and a potential economic slowdown due to its excellent funding base that drives an elevated net interest margin and a solid capital and credit profile, the firm tells investors in a research note.