Morgan Stanley analyst Manan Gosalia lowered the firm’s price target on Bank OZK (OZK) to $59 from $63 and keeps an Equal Weight rating on the shares. The firm has noted a renewed investor focus on Bank OZK’s life sciences exposure and while it doesn’t expect any changes given OZK’s prior comments that sponsors continue to support their properties, any negative developments on credit could impact the stock on earnings day, the analyst tells investors in an earnings preview for the midcap bank group.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OZK:
- Bank OZK price target raised to $51 from $50 at UBS
- Unusually active option classes on open January 6th
- Bank OZK: Emerging Credit Risks, Margin Compression, and Muted Growth Drive Sell Recommendation
- Citi places ‘downside 30-day catalyst watch’ on Bank OZK
- Bank OZK raises quarterly dividend 2.22% to 46c per share