Glacier Bancorp price target raised to $48 from $45 at Raymond James

Raymond James raised the firm’s price target on Glacier Bancorp (GBCI) to $48 from $45 and keeps an Outperform rating on the shares. The firm raised its price target following the company’s expansion into Texas with the acquisition of Guaranty Bancshares (GNTY), with the deal providing an “attractive entry” into the Lone Star State. Raymond James also sees the move as extending Glacier’s already solid growth runway going forward, providing significant opportunity for both organic and inorganic growth opportunities. The firm continues to see the risk/reward favorably.