In February, the U.S. Federal Reserve raised its target Fed funds rate by 0.25% to a new target range of between 4.5% and 4.75% as it attempts to get inflation under control.
Oppenheimer analyst Scott Schneeberger reiterated an Outperform rating on the shares of Target Hospitality Corp (NASDAQ: TH) with a price target of $22.
Regional bank stocks suffered steep losses on Monday following the recent collapse of SVB Financial Group (Silicon Valley Bank) (NASDAQ: SIVB), which led to the government stepping in to support depositors.