Axos Financial price target lowered to $88 from $96 at DA Davidson

DA Davidson lowered the firm’s price target on Axos Financial (AX) to $88 from $96 and keeps a Buy rating on the shares. The company’s Q2 results were generally in line with expectations, with major income statement line items offsetting, the analyst tells investors in a research note. The firm adds however that the second consecutive quarter of sizable non-performing asset increase was notable, and while themanagement views the adds as idiosyncratic, the elevated levels may be an overhang on the stock for the intermediate term.