First Interstate price target raised to $38 from $37 at UBS

UBS raised the firm’s price target on First Interstate (FIBK) to $38 from $37 and keeps a Neutral rating on the shares. Mid-cap banks have delivered strong results and avoided early Q4 credit concerns, the analyst tells investors in a research note. Investor momentum into regional banks is expected to continue, supported by curve steepening, accelerating loan growth, and M&A activity such as Santander’s (SAN) acquisition of Webster (WBS).