Texas Capital price target raised to $70 from $62 at Wedbush

Wedbush analyst David Chiaverini raised the firm’s price target on Texas Capital to $70 from $62 and keeps a Neutral rating on the shares. Texas Capital reported a mixed quarter with NII weaker than expected overshadowing strength in investment banking fees and guidance for 2024 was lowered, the analyst tells investors in a research note. Wedbush believes the company’s outlook is appropriately reflected in its premium valuation.