Axos Financial rises after Needham initiates coverage with 'buy' rating

Axos Financial

11/10/2024 19:33

** U.S. lender Axos Financial's  AX.N  shares rise ~5.2% to
$63.57
    ** Needham initiates coverage of AX with "buy" rating and PT
of $82
    ** Brokerage says AX's digital first strategy results in a
leaner expense structure and helps it quickly expand to new
markets on growth opportunities
    ** AX in the sweet spot between digital lending and banking
— Needham 
    ** 5 of 7 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $80 — data from LSEG
    ** Including session's moves, stock up ~16.2% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))