Axos Financial price target raised to $76 from $65 at DA Davidson

DA Davidson analyst Gary Tenner raised the firm’s price target on Axos Financial to $76 from $65 and keeps a Buy rating on the shares after its Q2 earnings beat. The firm’s positive estimate revisions reflect the final determination of the purchase accounting treatment of the FDIC loan purchase, the analyst tells investors in a research note. Axos Financial is a differentiated growth story that has successfully grown at an above industry pace through a variety of rate and economic environments. and as evidenced by its recent loan purchase, strong balance sheet liquidity and capital has allowed the company to remain opportunistic, the firm added.