Axos Financial (AX) PT Raised to $128 at Needham

Needham analyst Kyle Peterson raised the price target on Axos Financial (NYSE: AX) to $128.00 (from $110.00) while maintaining a Buy rating.

The analyst comments "AX closed out FY26 on a strong note, beating estimates across the board due to stronger loan growth, a higher NIM, and lower than expected credit costs. In addition, the company nibbled at the buyback, returning $22 million to shareholders which we view as another lever management can pull to further increase shareholder value. AX also recently acquired Arc Technologies, a cash and treasury management platform for small and mid-market businesses, which we expect will further enhance AX's commercial product offerings and help bolster both fee income and deposits over time. We remain constructive on AX given our view that the value of the loan and deposit franchises continue to grow and remain underappreciated by investors. We are reiterating our BUY rating and raising our target to $128."

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