BUZZ-Raymond James cuts Webster Financial PT on conservative growth outlook

Reuters
04-02
BUZZ-Raymond James cuts Webster Financial PT on conservative growth outlook

** Brokerage Raymond James cuts PT on regional lender Webster Financial to $58 from $65

** Cites conservative net interest margin and growth outlook

** Says the recent flattening of the yield curve weighs slightly on estimates

** "We reduced our 1H25 loan growth forecasts given borrowers are exercising more caution in the current environment, reducing our 2025 loan growth estimate to 4.1% (from 5.1%)," says brokerage

** New PT still implies ~14.3% upside to stock's last closing price of $50.73

** Thirteen brokerages rate stock "buy" or higher, and 2 "hold"; median PT is $68.5 - data compiled by LSEG

** As of last close, WBS stock down 8.1% YTD compared to a 4.2% decline in the S&P 500 .SPX

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com; ))

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