Midwest Holding price target lowered to $15 from $16 at Piper Sandler

Piper Sandler lowered the firm’s price target on Midwest Holding to $15 from $16 and keeps a Neutral rating on the shares. The bank failures in March have overshadowed a continued improving mortality environment for insurers, the analyst tells investors in a research note. The firm also thinks long-duration targeted improvement accounting changes will smooth out the earnings volatility of mortality-based businesses.