Sierra Bancorp price target raised to $21 from $19.50 at DA Davidson

DA Davidson analyst Gary Tenner raised the firm’s price target on Sierra Bancorp to $21 from $19.50 and keeps a Buy rating on the shares after holding talks with its management. Highlights of the discussions include the company’s granular deposit base, positive positioning to navigate the higher rate environment, and potential for better than projected loan growth, the analyst tells investors in a research note. Sierra Bancorp shares represent an attractive risk-reward at current levels, the firm added.