ChoiceOne Financial price target raised to $34 from $32 at DA Davidson

DA Davidson raised the firm’s price target on ChoiceOne Financial (COFS) to $34 from $32 and keeps a Buy rating on the shares after it’s Q1 earnings beat. The company continues to post pure leading profitability at measured balance sheet growth, the analyst tells investors in a research note. While the bank saw loan runoff, margin expansion had kept net interest income fairly steady from Q4, and the management targets single-digit growth range, implying a healthy ramp up for the remainder of the year, the firm added.