First Business Financial price target raised to $62 from $52 at Raymond James

Raymond James analyst Daniel Tamayo raised the firm’s price target on First Business Financial (FBIZ) to $62 from $52 and keeps an Outperform rating on the shares. First Business Financial’s Q4 was “noisy,” but strong, where a stable core net interest margin and steady loan growth fueled net interest income upside, fee momentum continued, and operating expenses fared better-than-expected, the analyst tells investors in a research note. Credit also remained largely stable despite softness in transportation and the outlook improves given building fee momentum and well-maintained expenses, while balance sheet growth should persist and NIM should remain steady, the firm says.