First Busey price target raised to $27 from $25 at Raymond James

Raymond James analyst Daniel Tamayo raised the firm’s price target on First Busey (BUSE) to $27 from $25 and keeps an Outperform rating on the shares ahead of the Q2 earnings report. The firm expects relative stability in EPS estimates with a bias to the upside during the July reporting season, though the uncertainty about the trade war, economic backdrop, health of the consumer, and impact on credit costs highlight the bear case for bank stocks, the analyst tells investors in a research note. Raymond James expects loan growth forecasts to remain mostly stable to slightly improved, with some rebound already built into second half expectations, while net interest margin expansion should continue.