Coastal Financial price target raised to $105 from $100 at Raymond James

Raymond James raised the firm’s price target on Coastal Financial (CCB) to $105 from $100 and keeps a Strong Buy rating on the shares. The firm’s positive thesis is predicated on the company continuing to execute on its growth strategy through adding national partners, and notes that there were some notable intra-quarter announcements from new partners, the analyst tells investors in a research note. The firm doesn’t believe the current valuation reflects Coastal Financial’s potential earnings power.