First Interstate price target raised to $30 from $29 at Wells Fargo

Wells Fargo raised the firm’s price target on First Interstate (FIBK) to $30 from $29 and keeps an Underweight rating on the shares. Limited balance sheet growth and credit tail-risk put the still-premium valuation at-risk, the firm argues. Wells sees more optimism coming for the group, and sees “the lagging” First Interstate as a potential source of funds for higher growth names.