Alerus Financial upgraded to Strong Buy from Outperform at Raymond James

Raymond James analyst David Long upgraded Alerus Financial (ALRS) to Strong Buy from Outperform with a price target of $27, up from $25. The firm cites the company’s securities portfolio restructuring in late December for the upgrade. The portfolio “clean-up” drove an increase of 8% to Raymond James’ earnings estimates for 2026 and 2027, and allows Alerus to “re-focus its energy on organic growth opportunities,” the analyst tells investors in a research note. The firm says the balance sheet optimization improves Alerus’ earnings power and reduces its interest rate risk.