Raymond James upgraded ServisFirst (SFBS) to Strong Buy from Outperform with an unchanged price target of $95. The company’s better than expected Q4 report suggests its business momentum should accelerate, the analyst tells investors in a research note. The firm says ServisFirst’s net interest margin expansion far exceeded expectations and is expected to continue. This, combined with stronger than expected loan growth, should support an upward bias to estimates, adds Raymond James.
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