Veritex downgraded to Outperform from Strong Buy at Raymond James

Raymond James downgraded Veritex (VBTX) to Outperform from Strong Buy with a price target of $28, down from $31. While management has taken meaningful steps to clean-up the balance sheet and profitability is poised to improve over time, ongoing franchise investment coupled with risk to its growth outlook could limit progress towards its 1% Return on Assets target in the second half of 2025, the analyst tells investors in a research note. The firm says it continues to see a modestly positive risk-reward dynamic.