First Foundation price target raised to $10.50 from $8 at Piper Sandler

Piper Sandler raised the firm’s price target on First Foundation to $10.50 from $8 and keeps a Neutral rating on the shares. The firm is also trimming its 2024/2025 EPS to 8c/90c from 20c/95c based on a weaker net interest margin and higher LLP, partly offset by better NIE.