Alerus Financial Corp. (ALRS) PT Raised to $25 at DA Davidson

DA Davidson analyst Jeffrey Rulis raised the price target on Alerus Financial Corp. (NASDAQ: ALRS) to $25.00 (from $20.00) while maintaining a Neutral rating.

The analyst commented: "A positive NIM surprise triggered EPS upside in 2Q, although margin is expected to normalize ahead. The NII picture has improved in our model, which combined with managed expense growth, led to an increase to our forward EPS projections. We're optimistic that positive credit resolution is underway, yet further evidence is needed on this front. We maintain our NEUTRAL rating with a $25 PT."

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