First Foundation price target raised to $7 from $6 at Stephens

Stephens raised the firm’s price target on First Foundation to $7 from $6 and keeps an Equal Weight rating on the shares after Q2 operating EPS of 3c beat to the firm’s and Street’s 1c forecast. Longer term focus remains on growing wealth management, shifting loan growth to more C&I business, diversifying geographically and improving core funding, says the analyst, who suspects “investor sentiment could remain challenging” until greater line-of-sight to the company’s 2026 targets is available.