Banner Corp. price target lowered to $65 from $77 at Raymond James

Raymond James lowered the firm’s price target on Banner Corp. (BANR) to $65 from $77 and keeps an Outperform rating on the shares. While Banner Corp. reported “solid” Q1 results, the firm is lowering its price target given lower industry valuations, the analyst tells investors in a research note. Banner’s consistent performance, strong deposit base, and defensive posture is attractive, especially given the volatility and uncertainty in this market, the firm says.