Stephens analyst Matt Olney raised the firm’s price target on Texas Capital to $79 from $78 and keeps an Overweight rating on the shares after reviewing management’s guidance and recently disclosed materials. The firm continues to expect the company’s EPS trends to trough in Q1 of 2024 due to seasonal pressure from mortgage finance and operational expenses. Following Q1, EPS trends should accelerate throughout the year, driving positive operating EPS leverage in late 2024 and 2025, Stephens concludes.
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