DA Davidson Maintains Buy on TriCo, Lowers Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
DA Davidson analyst Jeff Rulis has maintained a Buy rating on TriCo Bancshares (NASDAQ: TCBK) but has reduced the price target from $49 to $45.
January 26, 2024 | 7:58 pm
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DA Davidson analyst Jeff Rulis reaffirms a Buy rating on TriCo Bancshares but lowers the price target to $45 from $49.
The reiteration of a Buy rating suggests a positive outlook on the stock, indicating confidence in the company's fundamentals or growth prospects. However, the reduction in the price target could reflect a revised valuation model or changes in market conditions that suggest a lower expected future stock price. This mixed signal is likely to have a neutral short-term impact on the stock price as the positive sentiment from maintaining a Buy rating could be offset by the lowered price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100