Raymond James Upgrades Camden National (CAC) to Outperform

Raymond James analyst Steve Moss upgraded Camden National (NASDAQ: CAC) from Market Perform to Outperform with a price target of $50.00.

The analyst comments "We upgrade CAC to an Outperform rating and establish a $50 price target for CAC following recent investor meetings with CEO Simon Griffiths, CFO Mike Archer, and Chief Experience and Marketing Officer Renée Smyth. We came away impressed by management’s focus on growing and improving CAC’s already attractive franchise across New England, and its goal to increase profitability to the top quartile of banks. We expect a material improvement in earnings for 2025 and 2026, driven by NIM expansion from Fed rate cuts and fixed rate asset repricing, combined with the accretive acquisition of NWYF. These dynamics should support a higher multiple over time on a cash EPS basis."

For an analyst ratings summary and ratings history on Camden National click here. For more ratings news on Camden National click here.

Shares of Camden National closed at $42.06 yesterday.

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