Veritex Holdings hits over 1-yr high after Raymond James double upgrades
** Shares of regional lender Veritex Holdings VBTX.O rise as much as 5.1%, hitting their highest in more than a year; last up 4.4% at $26
** Raymond James double-upgrades VBTX shares to "strong buy" rating from "market perform" and assigns a $30 PT, a 20.4% upside to stock's last close
** Brokerage says VBTX has spent the past year improving its balance sheet, which is now beginning to exhibit material progress
** Adds that VBTX's profitability is expected to move higher in the coming quarters as revenue growth inflects higher and credit trends improve
** Raymond James says with the dealmaking cycle heating up, VBTX has the option to strike a deal to scale itself or sell itself to a larger bank looking to expand
** Three of six brokerages rate the stock "buy" or higher and three "hold"; their median PT is $27 - LSEG data
** As of last close, VBTX shares up 7% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
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