SmartFinancial price target raised to $42 from $36 at Raymond James

Raymond James raised the firm’s price target on SmartFinancial (SMBK) to $42 from $36 and keeps a Strong Buy rating on the shares. Raymond James has greater confidence in SmartFinancial’s earnings outlook following the Q4 results, which demonstrated the strength of the franchise with continued strong loan growth, solid core funding, and clean credit, the analyst tells investors in a research note. The firm thinks SmartFinancial is well-positioned for significant pre-provision net revenue growth in 2025 and views risk-reward favorably.