# Alerus Financial (ALRS) — Analyst Forecast

ALRS · NASDAQ · Stock

Canonical page: https://www.lighthorse.io/tickers/alrs/forecast

## Recent analyst ratings

| Date | Firm | Action | Rating | Price target |
| --- | --- | --- | --- | --- |
| Oct 2, 2026 | Piper Sandler | Upgraded | Neutral → Overweight | $38.00 |
| Jul 31, 2026 | Keefe, Bruyette & Woods | Maintained | Market Perform | $32.00 |
| Jul 31, 2026 | Piper Sandler | Maintained | Neutral | $37.00 |
| Jul 9, 2026 | Raymond James | Maintained | Outperform | $34.00 |
| Jun 26, 2026 | Piper Sandler | Maintained | Neutral | $32.00 |
| May 1, 2026 | Keefe, Bruyette & Woods | Maintained | Market Perform | $27.00 |
| May 1, 2026 | Piper Sandler | Maintained | Neutral | $28.50 |
| May 1, 2026 | DA Davidson | Maintained | Neutral | $29.00 |
| Jan 30, 2026 | Keefe, Bruyette & Woods | Maintained | Market Perform | $25.00 |
| Jan 30, 2026 | DA Davidson | Maintained | Neutral | $26.00 |
| Jan 7, 2026 | Hovde Group | Downgraded | Outperform → Market Perform | — |
| Jan 5, 2026 | Raymond James | Upgraded | Outperform → Strong Buy | $27.00 |
| Nov 4, 2025 | Piper Sandler | Maintained | Neutral | $24.00 |
| Nov 3, 2025 | Keefe, Bruyette & Woods | Maintained | Market Perform | $24.00 |
| Jul 30, 2025 | Piper Sandler | Maintained | Neutral | $25.50 |
| Jul 29, 2025 | Raymond James | Maintained | Outperform | $27.00 |
| Jul 29, 2025 | Keefe, Bruyette & Woods | Maintained | Market Perform | $25.00 |
| Jul 29, 2025 | DA Davidson | Maintained | Neutral | $25.00 |
| May 2, 2025 | Piper Sandler | Maintained | Neutral | $23.00 |
| Apr 30, 2025 | Keefe, Bruyette & Woods | Maintained | Market Perform | $22.00 |

## Frequently Asked Questions

### What is the latest analyst rating on ALRS?

On Oct 2, 2026, Piper Sandler upgraded Alerus Financial to Overweight with a price target of $38.00.

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Analyst ratings and price targets are the opinions of third-party research firms, not of Light Horse Securities. They are estimates about an uncertain future, are frequently wrong, and are neither a recommendation nor a prediction of actual results.

This page is for informational purposes only. Nothing on it is a recommendation, solicitation or offer to buy or sell any security, nor investment, legal or tax advice. Light Horse Securities Inc does not verify third-party data and is not responsible for its accuracy, completeness or timeliness.

Data provided by [AInvest](https://www.ainvest.com).