Keefe Bruyette's analyst Christopher O’Connell has revised the price target for Independent Bank (INDB, Financial), adjusting it downward from $80 to $72. Despite this reduction, the analyst maintains a Market Perform rating for the bank's shares. This adjustment reflects the latest evaluation of the bank's market performance and potential future prospects.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for Independent Bank Corp (INDB, Financial) is $75.50 with a high estimate of $81.00 and a low estimate of $63.00. The average target implies an upside of 35.21% from the current price of $55.84. More detailed estimate data can be found on the Independent Bank Corp (INDB) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, Independent Bank Corp's (INDB, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Independent Bank Corp (INDB, Financial) in one year is $81.68, suggesting a upside of 46.28% from the current price of $55.84. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Independent Bank Corp (INDB) Summary page.
