Washington Federal price target lowered to $32 from $35 at Stephens

Stephens analyst Andrew Terrell lowered the firm’s price target on Washington Federal to $32 from $35 and keeps an Equal Weight rating on the shares following the company’s Q4 report. The firm expects another quarter of NIM compression before stabilization/expansion, though it adds that a moderation in short-term rates should be beneficial for Washington Federal. Given this view, the firm feels the current valuation relative to profitability is “fair,” the analyst tells investors.