South Plains Financial price target lowered to $38 from $39 at Raymond James

Raymond James lowered the firm’s price target on South Plains Financial (SPFI) to $38 from $39 and keeps an Outperform rating on the shares. South Plains Financial’s Q1 results topped Street EPS and pre-provision net revenue estimates on a core basis, with net interest margin expanding 6 basis points quarter over quarter, the analyst tells investors in a research note. The firm continues to view risk-reward positively given its improving profitability, healthy liquidity levels, its strong capital levels, and robust reserve levels.