Unity Bancorp price target raised to $39 from $35 at Keefe Bruyette

Keefe Bruyette analyst Christopher O’Connell raised the firm’s price target on Unity Bancorp to $39 from $35 and keeps an Outperform rating on the shares. The bank posted a modest earnings beat in Q2 on lower credit costs, while net interest income came in light on lower loan growth, though pipelines are up substantially and guidance is for a rebound in the second half of 2024, the analyst tells investors in a research note.