Cathay General price target raised to $51 from $45 at DA Davidson

DA Davidson analyst Gary Tenner raised the firm’s price target on Cathay General (CATY) to $51 from $45 and keeps a Neutral rating on the shares. Cathay General reported a solid quarter of net interest income growth and net interest margin expansion, although the company’s provision came in higher than the firm’s estimate, the analyst tells investors in a research note.