The latest price target for First Merchants (NASDAQ:FRME) was reported by Piper Sandler on February 4, 2026. The analyst firm set a price target for $49.00 expecting FRME to rise to within 12 months (a possible 19.05% upside). 6 analyst firms have reported ratings in the last year.

The latest analyst rating for First Merchants (NASDAQ:FRME) was provided by Piper Sandler, and First Merchants maintained their overweight rating.

There is no last upgrade for First Merchants

The last downgrade for First Merchants Corp happened on September 26, 2025 when Raymond James changed their price target from N/A to N/A for First Merchants Corp.

Analysts arrive at stock ratings after doing extensive research, which includes going through public financial statements, talking to executives and customers of First Merchants, and listening in to earnings conference calls. Most analysts do this every three months, so you should get 4 ratings per company per firm each year. The last rating for First Merchants was filed on February 4, 2026 so you should expect the next rating to be made available sometime around February 4, 2027.

While ratings are subjective and will change, the latest First Merchants (FRME) rating was a maintained with a price target of $46.00 to $49.00. The current price First Merchants (FRME) is trading at is $41.16, which is out of the analyst’s predicted range.