Truist analyst Andrew Jeffrey lowered the firm’s price target on Black Knight (BKI) to $63 from $67 but keeps a Buy rating on the shares as part of a broader research note on FinTech and Info Services. The failures of three regional banks ranges from muted to material, and while the concern about tech demand in the industry and the macro knock-on risk is reasonable, some names have overreacted, the analyst tells investors in a research note. The greatest demand-destruction risk is at core processors, Fiserv (FISV) and FIS (FIS), as well as Mortgage Tech provider, Black Knight, but the most long-term upside accrues to neobanks, such as Block (SQ) and Green Dot (GDOT), the firm added.
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