UPDATE: Washington Federal (WAFD) PT Lowered to $31 at Piper Jaffray
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
(Updated - October 17, 2018 3:37 PM EDT)
(updated to add analyst comment, market color)
Piper Jaffray analyst Matthew Clark lowered the price target on Washington Federal (NASDAQ: WAFD) to $31.00 (from $32.00) while maintaining a Neutral rating.
The analyst has a cautious view on the shares: "We trim our fiscal 2019E / 2020E EPS to $2.40 / $2.45 (from $2.50 / $2.50) based on higher expenses. We remain cautious based on our below the Street estimates, some uncertainty around its BSA Agreement & the need to eventually replace PAA / negligible LLPs with sustainable EPS. We also discount its reliance on C&D lending for growth ahead of CECL & increased potential for a related slowdown. We expect the shares to remain somewhat supported by a willingness to pay out 100% of its earnings."
Shares of WAFD trade nearly flat in afternoon trading, being up +0.10%, while SPY is trading down -0,13%.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mphasis Ltd. (MPHL:IN) PT Raised to INR2,540 at Goldman Sachs
- AP Moller Maersk (MAERSKB:DC) (AMKBY) PT Raised to DKK18,500 at Goldman Sachs
- Flat Glass Group Co Ltd (6865:HK) (FGSGF) PT Lowered to HK$43 at UBS
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesPiper Jaffray, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!