Does First Merchants (FRME) Have the Potential to Rally 26.14% as Wall Street Analysts Expect?

Core Viewpoint - First Merchants (FRME) shares have increased by 2.4% recently, closing at $36.15, with analysts suggesting a potential upside of 26.1% based on a mean price target of $45.6 [1][11]. Price Targets and Analyst Consensus - The mean estimate for FRME includes five short-term price targets with a standard deviation of $2.7, indicating a range of estimates from $43.00 (19% increase) to $50.00 (38.3% increase) [2][11]. - A low standard deviation among price targets suggests strong agreement among analysts regarding the stock's price movement, which can be a useful starting point for further research [9][10]. Earnings Estimates and Market Sentiment - Analysts have shown increasing optimism about FRME's earnings prospects, as evidenced by a positive trend in earnings estimate revisions, which correlates with potential stock price increases [4][11]. - The Zacks Consensus Estimate for the current year has risen by 0.7% over the past month, with three estimates increasing and no negative revisions [12][13]. Zacks Rank and Investment Potential - FRME holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside in the near term [13][14].