Nicolet Bankshares price target raised to $110 from $90 at Stephens

Stephens raised the firm’s price target on Nicolet Bankshares to $110 from $90 and keeps an Equal Weight rating on the shares. Nicolet reported operating earnings 14% above consensus in Q2 due to better-than-expected balance sheet growth, net interest margin performance and operating expenses, the analyst tells investors. After closing acquisitions each year from 2019-2022, Nicolet “remains in a favorable position once the M&A window opens in the upper-Midwest,” the analyst added.