Following a recent evaluation of Texas Capital Bancshares (TCBI, Financial), Citi has cut the company's price target to $63, down from $70. The financial institution maintains a Sell rating on the stock after assessing the first-quarter report.
Key factors influencing this decision include the bank's cost structure and restrained activity in capital markets, which have led to postponed earnings forecasts. According to the analyst, the current valuation of Texas Capital appears to provide minimal upside potential at existing levels.
