Texas Capital price target lowered to $76 from $81 at DA Davidson

DA Davidson analyst Peter Winter lowered the firm’s price target on Texas Capital (TCBI) to $76 from $81 and keeps a Neutral rating on the shares. The company reported a mixed quarter as strong net interest income growth was more than offset by lower capital markets fees, and the firm was surprised that Texas Capital raised its total revenue forecast to the high end of January’s range of high single to low double-digit revenue growth given all this uncertainty, despite a stronger net interest income outlook, the analyst tells investors in a research note.