Alerus Financial price target raised to $28.50 from $28 at Piper Sandler

Piper Sandler analyst Nathan Race raised the firm’s price target on Alerus Financial (ALRS) to $28.50 from $28 and keeps a Neutral rating on the shares. The firm notes the company posted strong Q1 results highlighted by 19% PPNR upside via stronger net interest income that benefited from greater net interest margin expansion and very well-managed operating expenses.