First Merchants (FRME) analyst forecast and price target
Analyst forecast
Consensus of 6 analyst ratings
Recent analyst ratings
| Firm | Action | Rating | Price target | Date |
|---|---|---|---|---|
| Raymond James | Upgraded | Market Perform → Outperform | $46.00 | Oct 6, 2026 |
| Piper Sandler | Maintained | Overweight | $46.00 from $51.00 | Oct 5, 2026 |
| Piper Sandler | Maintained | Overweight | $51.00 from $49.00 | Jun 26, 2026 |
| Piper Sandler | Maintained | Overweight | $49.00 from $46.00 | Feb 4, 2026 |
| Piper Sandler | Maintained | Overweight | $46.00 from $48.00 | Oct 27, 2025 |
| Stephens & Co. | Maintained | Equal-Weight | $46.00 | Sep 29, 2025 |
| Keefe, Bruyette & Woods | Maintained | Outperform | $50.00 from $49.00 | Sep 26, 2025 |
| Raymond James | Downgraded | Outperform → Market Perform | — | Sep 26, 2025 |
| Piper Sandler | Maintained | Overweight | $48.00 from $49.00 | Jul 28, 2025 |
| Piper Sandler | Maintained | Overweight | $49.00 from $55.00 | Apr 28, 2025 |
| Keefe, Bruyette & Woods | Maintained | Outperform | $49.00 from $52.00 | Apr 25, 2025 |
| Raymond James | Maintained | Outperform | $46.00 from $50.00 | Apr 2, 2025 |
| Piper Sandler | Maintained | Overweight | $55.00 from $52.00 | Jan 31, 2025 |
| Raymond James | Maintained | Outperform | $50.00 from $42.00 | Jan 31, 2025 |
| Keefe, Bruyette & Woods | Maintained | Outperform | $52.00 from $50.00 | Jan 31, 2025 |
| Keefe, Bruyette & Woods | Maintained | Outperform | $50.00 from $43.00 | Dec 4, 2024 |
| Piper Sandler | Maintained | Overweight | $47.00 from $50.00 | Oct 28, 2024 |
| Keefe, Bruyette & Woods | Maintained | Outperform | $45.00 | Aug 28, 2024 |
| Keefe, Bruyette & Woods | Maintained | Outperform | $45.00 from $43.00 | Jul 29, 2024 |
| Piper Sandler | Maintained | Overweight | $50.00 from $41.00 | Jul 29, 2024 |
Frequently asked questions
Is FRME a buy, sell, or hold?
Analysts covering First Merchants currently average a Buy rating: 5 buy, 1 hold and 0 sell, from 6 analysts. Ratings reflect analyst opinion, not investment advice.
What is the latest analyst rating on FRME?
On Oct 6, 2026, Raymond James upgraded First Merchants to Outperform with a price target of $46.00.
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.