Cass Information Systems initiated with an Outperform at Raymond James

Raymond James initiated coverage of Cass Information Systems (CASS) with an Outperform rating and $50 price target While the company’s revenue mix is skewed toward fee income, Cass is well-positioned to benefit from a widening net interest margin due to the repricing of fixed-rate assets, the analyst tells investors in a research note. Cass also continues to embrace automation as it is focused on improving the efficiency of its labor-intensive payments business, the firm added.