Coastal Financial price target raised to $53 from $51 at Stephens

Stephens analyst Andrew Terrell raised the firm’s price target on Coastal Financial to $53 from $51 and keeps an Overweight rating on the shares. Q1 results "demonstrated clear differentiation" in the company’s BaaS business model, contends the analyst, who believes continued upstreaming of the company’s BaaS partnerships will translate to continued robust growth in earnings.