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Sterne Agee raises its price target from $41 to $42.50 on Texas Capital Bancshares
TCBI
Sterne Agee notes, "In a industry note earlier this week (5/29) we indicated being favorable towards TCBI in the environment of low interest rates and modest growth. We are reiterating our BUY rating, increasing our PT to $42.50 (+$1.50), and increasing
our forward estimates. We believe loan growth and profitability will exceed
expectations over the next 4-6 quarters."
TCBI closed at $38.78 on Thursday.
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