DA Davidson analyst Jake Civiello reiterated a Buy rating and $68.00 price target on Unity Bancorp (NASDAQ: UNTY).

The analyst commented, "Maintain BUY rating and $68 PT. UNTY announced the purchase of $27.6 million of transferable federal energy investment tax credits for $25.1 million. The company will record a one-time benefit of $2.5 million in 3Q26 results. We have adjusted our model to account for the gain, which we calculate will be ~$0.29 per share. While one-time in nature and unique in scale due to the 3-year carry-back claim, we anticipate UNTY will continue to pursue these energy tax credits in the future."

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Shares of Unity Bancorp closed at $59.09 yesterday.