Raymond James Upgrades Axos Financial to 'Strong Buy' Despite Lower Price Target

Raymond James has upgraded its rating for Axos Financial (AX) from 'Outperform' to 'Strong Buy', signaling increased conviction in the stock's potential. However, the financial services firm simultaneously lowered its price target for the company from $110.00 to $100.00. This adjustment reflects a recalibration of valuation expectations while maintaining a bullish outlook relative to current market prices. Axos Financial remains a significant player in residential property and SME financing, particularly within the California market. The upgrade suggests that analysts view current price levels as an attractive entry point despite the slightly more conservative price objective. Market participants are likely to weigh the improved rating against the lowered target in the upcoming trading sessions.