Axos Financial price target raised by $10 at Keefe Bruyette, here’s why

Keefe Bruyette analyst Michael Perito raised the firm’s price target on Axos Financial to $74 from $64 and keeps an Outperform rating on the shares. The stock “squeezed” 12% Friday after the company said it was acquiring two former Signature Bank loan portfolios from the FDIC at favorable terms, the analyst tells investors in a research note. The firm says the loan portfolio purchase is not just a favorable financial event, but also a positive indicator that Axos Financial’s primary regulator, the Office of the Comptroller of the Currency, provided some form of approval to close this deal.