Webster Financial price target lowered to $60 from $61 at Citi

Citi lowered the firm’s price target on Webster Financial to $60 from $61 and keeps a Buy rating on the shares. The company reported Q4 results of modestly softer than expected revenue trends, partially mitigated by a well-managed expense base and lower tax rate, the analyst tells investors in a research note. The firm says the shares offer a positively skewed risk/reward at the current share price.