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Fly News Breaks for May 1, 2019
AX
May 1, 2019 | 09:02 EDT
As previously reported, Compass Point analyst Scott Valentin downgraded Axos Financial to Neutral from Buy after the company's Q3 adjusted EPS missed both consensus and his estimate. Management maintained core NIM guidance of 3.8%-4.0%, but expects loan portfolio growth in the low-teens, noted Valentin, who lowered his FY19 and FY20 adjusted EPS estimates to reflect lower projected noninterest income. He cut his price target on Axos shares to $35 from $38 given his reduced estimates.
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