BUZZ-Hovde downgrades BOK Financial to 'market perform'
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Hovde Group has downgraded BOK Financial Corp to 'market perform' from 'outperform', citing limited upside despite improved net interest margin and fee income. The brokerage raised the price target to $129, expecting 9-10% organic earnings growth over the next two years. BOK Financial is noted for strong fee businesses and deposit franchises, with potential disruption opportunities from recent bank deals. Currently, 4 out of 10 brokerages rate the stock as 'buy' or higher, with a median price target of $119.
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