Merchants Bancorp price target lowered to $31 from $35 at Piper Sandler

Piper Sandler analyst Nathan Rice lowered the firm’s price target on Merchants Bancorp to $31 from $35 and keeps an Overweight rating on the shares. The firm has high conviction that profitability will remain top decile even though the complexion of results may differ from expectations., the analyst tells investors in a research note.