Axos Financial price target lowered to $44 from $55 at Raymond James

Raymond James lowered the firm’s price target on Axos Financial to $44 from $55 and keeps an Outperform rating on the shares. The firm continues to forecast the bank maintaining a roughly 48% efficiency ratio, supporting strong PPNR growth, high teens ROATCE, and compounding TBV growth at a high-teens pace, the analyst tells investors in a research note.