Maxim analyst Michael Diana lowered the firm’s price target on BM Technologies (BMTX) to $10 from $15 and keeps a Buy rating on the shares. BM’s Q4 results missed consensus due to an unfavorable deposit processing servicing agreement with Customers Bank (CUBI) and due to a lower level of deposits, the analyst tells investors in a research note. BM’s valuation remains compelling, the firm adds.
Published first on TheFly
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