DA Davidson Reiterates Buy Rating on Unity Bancorp (UNTY)

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."

For an analyst ratings summary and ratings history on Unity Bancorp click here. For more ratings news on Unity Bancorp click here.

Shares of Unity Bancorp closed at $59.09 yesterday.

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