BayCom price target raised to $34 from $32 at DA Davidson

DA Davidson raised the firm’s price target on BayCom (BCML) to $34 from $32 and keeps a Buy rating on the shares. The company reported a solid pre-provision net revenue result, though EPS was impacted by a negative sequential swing from preferred equity investments, the analyst tells investors in a research note. The company’s core revenue growth rate and net interest margin expansion are supportive of the firm’s higher forward EPS outlook, DA Davidson added.