Wells Fargo analyst Jared Shaw downgraded Triumph Financial to Underweight from Equal Weight with a price target of $50, down from $60. While the bank’s 2025-2026 story may be more attractive, the medium-term setup for Triumph shares is likely skewed to the downside" due to hurdles in its payments transformation Shaw tells investors in a research note. The traditional banking segment is being de-emphasized and the key future source of income is slated to come from a segment still two years away from profitability, says the analyst. This, paired with a likely recession, warrants a cautious stance into 2023. The long-term disruptive nature of the TPay business "remains impressive," but buyers of shares are currently in the stock for a "very long-term vision that could take longer to pay off than expected," writes Shaw.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on TFIN:
- Triumph Financial downgraded to Underweight from Equal Weight at Wells Fargo
- Triumph Appoints Tim Valdez President of Factoring Division
- Triumph Financial, Inc. Announces Final Results of Tender Offer
- Triumph Financial announces final results of tender offer
- Triumph Financial, Inc. Announces Preliminary Results of Tender Offer