Texas Capital price target lowered to $97 from $102 at Stephens

Stephens lowered the firm’s price target on Texas Capital (TCBI) to $97 from $102 and keeps an Overweight rating on the shares. Texas Capital closed 2024 with “solid” Q4 results, but the firm thinks the initial stock price pressure reflects the “unexpected incremental investment spend,” says the analyst, who would “not be surprised” to see 2025 revenue guidance improve later in year via fees due to the recent investments of producers.