WaFd price target lowered to $29 from $31 at DA Davidson

DA Davidson lowered the firm’s price target on WaFd (WAFD) to $29 from $31 and keeps a Buy rating on the shares. The company’s Q1 results had stabilized from the prior quarter as its net interest margin expanded, expenses dropped, and fee income surged, the analyst tells investors in a research note. The firm adds that it expects WaFd net interest margin to further lift ahead and growth to resume.