Lakeland Financial price target lowered to $68 from $74 at Raymond James

Raymond James lowered the firm’s price target on Lakeland Financial (LKFN) to $68 from $74 and keeps an Outperform rating on the shares. The firm expects Q4 NIM compression from an inflow of seasonal public deposits and headwinds from the September rate cut and expects NIM pressure to alleviate some as public funds are dispersed, though declining rates will pressure NIM some in 2026, the analyst tells investors in a research note. Lakeland Financial remains an excellent defensive play in this uncertain backdrop, Raymond James argues.