Camden National (CAC) PT Raised to $56 at Raymond James

Raymond James analyst Steve Moss raised the price target on Camden National (NASDAQ: CAC) to $56.00 (from $54.00) while maintaining a Outperform rating.

The analyst comments "CAC delivered good first quarter results where loans were flattish and core NIM expansion took a pause, but fee income growth was solid (+7% y/y), expenses were below expectations, credit remained strong. The outlook is positive, as the strong loan pipeline (+21% y/y) should support low to mid-single digit loan growth for 2026, per management, and we see multiple tailwinds to support core NIM expansion to >3.00% by year-end, which should support incremental profitability against well-controlled expenses. CAC is a well-run franchise with strong profitability (1.3% ROA) and scarcity value, and we continue to find the stock attractive at an in-line valuation with small cap peers on a cash basis, despite superior profitability. We reiterate our Outperform rating and raise our target to $56, from $54, to reflect positive financial trends."

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