Webster Financial price target raised to $68 from $65 at Raymond James

Raymond James raised the firm’s price target on Webster Financial (WBS) to $68 from $65 and keeps an Outperform rating on the shares. Asset quality improved faster than expected while repurchases remained a capital outlet, and while balance sheet remixing and deposit competition pressures net interest margin near-term, growth prospects remain favorable while the credit outlook appears to have stabilized, the analyst tells investors. The firm maintains a bullish stance on shares with continued strong profitability metrics, solid growth and credit, and upside to regulatory reform.