Bank OZK price target raised to $49 from $48 at Wells Fargo

Wells Fargo analyst Timur Braziler raised the firm’s price target on Bank OZK (OZK) to $49 from $48 and keeps an Equal Weight rating on the shares. The firm says muted stock reaction following what was a very good operating result illustrates lingering perception of risk. Wells continues to expect shares to be range-bound between 100%-125% of TBV, meaning more downside risk given the current 120% valuation.