DA Davidson raised the firm’s price target on Triumph Financial to $80 from $75 and keeps a Buy rating on the shares. The stock remains attractive at current levels as its 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. Stabilization of trucking spot rates, with industry projections pointing toward a recovery in 2024, adds a tailwind to existing momentum, the firm added.
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Read More on TFIN:
- Triumph Appoints Jason Heilig Chief Technology Officer of Factoring Division
- Triumph Financial price target raised to $75 from $70 at DA Davidson
- Triumph Financial price target lowered to $49 from $51 at B. Riley
- Triumph Financial reports Q2 EPS 29c, consensus 41c
- Triumph Financial Releases Second Quarter 2023 Financial Results
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