Farmers National Banc price target lowered to $15 from $17 at Raymond James

Raymond James lowered the firm’s price target on Farmers National Banc (FMNB) to $15 from $17 and keeps an Outperform rating on the shares. Farmers’ Q1 performance was “solid,” as stronger revenues drove a pretax PPI beat while credit trends were healthy, the analyst tells investors in a research note. With net interest margin and profitability inflecting, along with a conservative credit posture, Raymond James continues to view the risk-reward dynamics favorably.