Jefferies lowered the firm’s price target on Texas Capital to $61 from $70 and keeps a Hold rating on the shares. In a Q1 preview for the U.S. banks group, the firm made “modest” estimate revisions, based mostly on a move to expecting six Fed cuts from eight through 2025, softer loan growth, and better capital markets fees. The firm now forecasts three Fed cuts of 25 basis points each in 2024 and three cuts in 2025, the analyst tells investors.
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Read More on TCBI:
- Texas Capital Bancshares, Inc. Announces Date for Q1 2024 Operating Results
- Raymond James changes three bank ratings ahead of Q1 reports
- Texas Capital price target lowered to $65 from $70 at JPMorgan
- Texas Capital downgraded to Market Perform from Outperform at Raymond James
- Texas Capital downgraded to Hold from Buy at Truist
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