Triumph Financial price target raised to $80 from $75 at DA Davidson

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.