BOK Financial Positioned For Growth With Strong Fee Income And Lower Rates, Analyst Upgrades Stock

D A Davidson analyst Peter J. Winter upgraded BOK Financial Corporation BOKF to Buy from Neutral and raised the price target to $124 (from $113). The analyst writes that BOKF is well-positioned for lower rates, leading them to upgrade the EPS estimates for the second half of 2024 and 2025 to the top end of consensus. Although BOKF lowered its revenue outlook in July, expecting only one rate cut in the second half of 2024 instead of two, the recent 50 basis point cut in September and signs of further rate cu ...