Alerus Financial assumed with an Outperform at Raymond James

Raymond James assumed coverage of Alerus Financial (ALRS) with an Outperform rating and $22 price target Following the close of its HMN Financial acquisition in October, Alerus is positioned to produce “superior” earnings growth and profitability improvements over the medium-term relative to its bank peers, the analyst tells investors in a research note. The firm says Alerus is well positioned for an uncertain backdrop given its strong credit culture and diverse revenue mix.