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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WBS:
- Webster Financial price target raised to $71 from $65 at Citi
- Webster Financial: Improved Credit Metrics and Stable Outlook Justify Hold Rating
- Webster Financial price target raised to $70 from $62 at RBC Capital
- Webster Financial price target raised to $75 from $70 at Wells Fargo
- Webster Financial price target raised to $68 from $65 at Keefe Bruyette