Alerus Financial price target raised to $25 from $20 at DA Davidson

DA Davidson raised the firm’s price target on Alerus Financial (ALRS) to $25 from $20 and keeps a Neutral rating on the shares. EPS upside in Q2 was fueled by a positive net interest margin surprise, though margin should normalize ahead, the analyst tells investors in a research note. DA Davidson says the net interest income picture has improved, while the firm is optimistic that positive credit resolution is underway.