Citi has adjusted its price target for Old National Bancorp (ONB, Financial), reducing it from $30 to $28. Despite the company's strong performance in its first-quarter earnings, Citi continues to maintain a Buy rating on ONB shares. The revision in the price target is attributed to the constrained economic forecast and increased beta, according to a research note from the firm.
The decision reflects broader market uncertainties that may impact the bank's future growth potential, although the current performance remains robust. Investors are advised to consider these economic factors while evaluating Old National Bancorp's potential.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Old National Bancorp (ONB, Financial) is $25.33 with a high estimate of $30.00 and a low estimate of $23.00. The average target implies an upside of 27.11% from the current price of $19.93. More detailed estimate data can be found on the Old National Bancorp (ONB) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Old National Bancorp's (ONB, Financial) average brokerage recommendation is currently 1.9, 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 Old National Bancorp (ONB, Financial) in one year is $24.58, suggesting a upside of 23.33% from the current price of $19.93. 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 Old National Bancorp (ONB) Summary page.
