Information Provided By:
Fly News Breaks for December 30, 2019
TCF
Dec 30, 2019 | 07:27 EDT
Raymond James analyst David Long reiterated a Strong Buy rating on TCF Financial and raised his price target to $58 from $53. In a research note to investors, Long says his bullish outlook is based on TCF reaching merger-of-equals expense savings, recording revenue synergies, improving upon already better-than-peer profitability metrics, and producing superior EPS growth in a challenging environment. Long also says the company's Q3 results alleviated investor confusion related to the combined finances.