Coastal Financial price target raised to $73 from $61 at Raymond James

Raymond James raised the firm’s price target on Coastal Financial (CCB) to $73 from $61 and keeps a Strong Buy rating on the shares. Coastal Financial’s Q3 results were in line with its forecast, demonstrating continued progress on its strategic plan, and its de-risking efforts are evident in credit metrics, the analyst tells investors in a research note. In addition, Coastal’s pipeline of new partners remains strong, where it signed a letter of intent with a new partner, which should support accelerating organic growth going forward, the firm says.