UPDATE: Jefferies Initiates Coverage on Texas Capital Bancshares on Solid Long-Term Growth Profile
In a report published Monday, Jefferies analyst Emlen Harmon initiated coverage on Texas Capital Bancshares (NASDAQ: TCBI) with a Buy rating and $55.00 price target.
In the report, Jefferies noted, “We are initiating coverage of Texas Capital (TCBI) with a Buy rating and $55 price target. We believe the company has a solid long-term growth profile, backed by a strong Texas footprint, market share gains, and positioning for an eventual rise in short-term rates. While concerns over run-off in the company's mortgage warehouse portfolio have weighed on shares relative to peers, we feel our estimates reflect a conservative view of the business.”
Texas Capital Bancshares closed on Friday at $47.60.
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