Webster Financial price target lowered to $56 from $60 at Raymond James

Raymond James analyst Daniel Tamayo lowered the firm’s price target on Webster Financial to $56 from $60 and keeps an Outperform rating on the shares. The firm continues to believe risk/reward profile remains attractive with Webster shares trading at a discount to peers as strong yet reasonable profitability targets are achievable, and Raymond James remains bullish on the bank’s ability to weather an economic downturn, the analyst tells investors in a research note.