First Bancorp price target raised to $57 from $53 at Stephens

Stephens raised the firm’s price target on First Bancorp (FBNC) to $57 from $53 and keeps an Overweight rating on the shares. The firm raised its FY25 and FY26 pre-provision net revenue estimates by 3.3% and 5.5%, respectively, after stronger net interest income and fees alongside lower expenses led to a quarterly beat.