Business First Bancshares price target lowered to $28 from $30 at Raymond James

Raymond James lowered the firm’s price target on Business First Bancshares (BFST) to $28 from $30 and keeps an Outperform rating on the shares. The Q1 results exceeded consensus on a core EPS/pre-provision net revenue basis, with relatively solid results despite ongoing noise from the acquisition of Oakwood, the analyst tells investors in a research note. Raymond James continues to view risk-reward positively given solid profitability juxtaposed with its discounted valuation vs. peers.