Axos Financial initiated with a Buy at Needham

Needham initiated coverage of Axos Financial with a Buy rating and $82 price target Axos is a provider of commercial and consumer financial services, with a broad base of offerings that includes lending, banking, and investing, the analyst tells investors in a research note. The firm believes the company is in the “sweet spot” between digital lending and banking, as it has a full-banking license, providing higher quality and more stable funding through deposits. It sees a favorable risk/reward at current share levels.