First Interstate price target raised to $34 from $31 at Barclays

Barclays analyst Jared Shaw raised the firm’s price target on First Interstate (FIBK) to $34 from $31 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for the mid-cap banks. Loan growth and deposit cost control should help drive earnings beats and positive guidance revisions, the analyst tells investors in a research note. Barclays believes another quarter of “clean credit” and good balance sheet trends “could pull investors off the sidelines.”