Northland analyst Mike Grondahl downgraded Piper Sandler to Market Perform from Outperform with no price target, citing valuation after the shares having “rallied significantly.” The firm believes normalized adjusted EPS is around $12.00 per share and “while that is possible for 2024, it seems like a little stretch for now,” the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PIPR: