Triumph Financial price target raised to $70 from $60 at DA Davidson

DA Davidson analyst Gary Tenner raised the firm’s price target on Triumph Financial to $70 from $60 and keeps a Buy rating on the shares. The stock remains attractive at current levels as the company’s non-traditional business lines of factoring and payments should generate long-term growth and profitability levels above that of a traditional commercial bank, the analyst tells investors in a research note. While near term profitability in the factoring segment has been under pressure from lower spot rates vs. Q1, pricing appears to have firmed up over the course of Q2, the firm adds.