German American Bancorp price target raised to $44 from $40 at Raymond James

Raymond James analyst David Long raised the firm’s price target on German American Bancorp (GABC) to $44 from $40 and keeps an Outperform rating on the shares. German American reported “impressive” Q2 results, including strong revenue results, solid balance sheet growth, and clean credit metrics, the analyst tells investors in a research note. The firm views the acquisition of Heartland BancCorp (HLAN) favorably as it provides German American with exposure to attractive new geographies in Ohio to pursue commercial lending and wealth management opportunities.