First Busey (BUSE) PT Lowered to $24 at DA Davidson

DA Davidson analyst David Konrad lowered the price target on First Busey (NASDAQ: BUSE) to $24.00 (from $25.00) while maintaining a Neutral rating.

The analyst commented: "Trimming EPS estimates & target, maintaining NEUTRAL rating. We are lowering our 2024 and 2025 core EPS estimates from $2.05 and $2.45 to $2.00 and $2.40, respectively. Adjustments to our model include a reduced NII outlook and increased credit costs. With our updated EPS outlook, we are trimming our target from $25 to $24, which equates to 10.0x our 2025 EPS estimate and 1.4x current TBV."

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