Axos Financial price target raised to $100 from $95 at Raymond James

Raymond James raised the firm’s price target on Axos Financial (AX) to $100 from $95 and keeps an Outperform rating on the shares. Axos announced that it will acquire Verdant Commercial Capital, the sixth largest independent equipment finance company in the U.S., which will enhance and scale the bank’s existing equipment leasing business, provide significant opportunity to leverage the bank’s lower cost funding base, as well as utilize its expanded floor plan segment, the analyst tells investors in a research note. The price tag and deal structure effectively aligns management and the sellers, minimizing risk, the firm says.