J.P.Morgan initiates Old National Bancorp at 'overweight' rating
ONB•J.P.Morgan starts coverage with overweight rating
J.P.Morgan initiates Old National Bancorp ONB.O with "overweight", PT of $32; implies 25% upside to last close.
- "We view ONB as a long-term outperformer rather than a near-term pick" - brokerage
- Says ONB is well-positioned to continue growing its balance sheet above peers in coming years, supporting a growth profile on just about any metric
- Adds that over the past five years, the firm has more than tripled its balance sheet size to $74 billion in assets as of 2Q26
- Eight of 12 analysts rate the stock "strong buy" or "buy", and four "hold"; their median PT is $29 - data compiled by LSEG
- Including session's move, stock is up 14.6% YTD
