Stephens raised the firm’s price target on Horizon Bancorp (HBNC) to $22 from $19 and keeps an Overweight rating on the shares after the company announced and partially executed a plan to strengthen the balance sheet from a capital and liquidity standpoint. The firm, which expects Q3 and Q4 earnings to be “noisy,” notes that its 2025 operating EPS estimate remains $1.80 and its 2026 estimate rises to $2.00 from $1.90.
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