As previously reported, Raymond James upgraded Texas Capital to Outperform from Market Perform and established a $115 price target. Analyst Michael Rose said the company beat Q4 core earnings forecasts and provided conservative NIM guidance in the 3.35%-3.45% range for 2018, which does not reflect any further rate hikes, and loan loss provision guidance of mid $50M-mid $60M, which appears too high given improvement in the energy portfolio. Rose now views risk/reward more positively and believes Texas' profitability improvement story is finally coming together.