Lakeland Financial (LKFN) PT Lowered to $71 at Raymond James

Raymond James analyst David Long lowered the price target on Lakeland Financial (NASDAQ: LKFN) to $71.00 (from $76.00) while maintaining a Outperform rating.

The analyst comments "We reiterate our Outperform rating on LKFN shares after hosting investor meetings featuring Chairman & CEO David Findlay, President Kristin Pruitt, and CFO Lisa O'Neill. The meetings carried a positive tone as investors recognized the safe haven status of Lakeland’s superior business model that has served it well through numerous economic cycles. The discussions primarily centered around loan growth opportunities in its Northern Indiana footprint, the bank’s sensitivity to interest rates, and capital priorities. Net, we believe LKFN remains an excellent defensive play in this uncertain backdrop, and we continue to like the company's growth prospects, superior profitability, and excellent credit quality metrics."

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