Raymond James raised the firm’s price target on Coastal Financial (CCB) to $73 from $61 and keeps a Strong Buy rating on the shares. Coastal Financial’s Q3 results were in line with its forecast, demonstrating continued progress on its strategic plan, and its de-risking efforts are evident in credit metrics, the analyst tells investors in a research note. In addition, Coastal’s pipeline of new partners remains strong, where it signed a letter of intent with a new partner, which should support accelerating organic growth going forward, the firm says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CCB:
- Coastal Financial (CCB) Q3 Earnings Cheat Sheet
- Coastal Community Bank to bifurcate president role
- Coastal Financial Appoints New President for FinTech Division
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
