Axos Financial downgraded to Outperform from Strong Buy at Raymond James

Raymond James analyst Michael Rose downgraded Axos Financial to Outperform from Strong Buy with a $55 price target. The strong fundamental backdrop for Axos Financial is being reflected in shares, where the stock has significantly outperformed year-to-date, and with the significant outperformance of shares, the firm does not see enough upside to its price target near-term to justify a Strong Buy rating, the analyst tells investors in a research note. The fundamental outlook for Axos remains strong, Raymond James says.