Texas Capital price target raised to $86 from $84 at Piper Sandler

Piper Sandler analyst Stephen Scouten raised the firm’s price target on Texas Capital (TCBI) to $86 from $84 and keeps a Neutral rating on the shares following quarterly results. The beat came nearly across the board with better expenses, stronger net interest income, higher fees, and a lower LLP. Piper expects the shares to climb, even with the recent outperformance, on the strong results and the 1.24% ROA reported in Q3. That said, the firm stays on the sidelines as this level of profitability does not seem sustainable based on the Q4 guide.