Piper Sandler downgraded Amerant Bancorp to Neutral from Overweight without a price target. Shares are looking fairly valued, and with the firm’s skepticism around forward guidance, Piper thinks the Neutral rating is appropriate, the analyst tells investors in a research note. Shares could move higher in 2H24 if the company’s guidance, or a greater take-out premium, plays out, but Piper is moving to the sidelines for now.
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