First Bancorp price target raised to $50 from $48 at Stephens

Stephens raised the firm’s price target on First Bancorp (FBNC) to $50 from $48 and keeps an Overweight rating on the shares. After core pre-provision net revenue of $48.3M beat the Street by 6%, the firm raised its FY25 and FY26 PPNR estimates by 4.5% and 6.0%, respectively, the analyst tells investors in a post-earnings note.