WSFS Financial price target raised to $76 from $70 at DA Davidson

DA Davidson raised the firm’s price target on WSFS Financial (WSFS) to $76 from $70 and keeps a Neutral rating on the shares. The company’s Q1 results were highlighted by a negative provision expense thanks to the previously disclosed net recoveries of $16M and substantial buyback of $85M, the analyst tells investors in a research note. The firm adds that it expect solid deposit growth from the quarter to continue through the year.