Piper Sandler price target lowered to $145 from $150 at Northland

Northland analyst Mike Grondahl lowered the firm’s price target on Piper Sandler to $145 from $150 and keeps an Outperform rating on the shares after the company reported Q1 results. Piper continues to deliver through its scale and diversification and although the equity brokerage business "did well in these unstable markets," the remaining businesses are still navigating the macro headwinds, says the firm, which adds that it views the company as "ready to execute once markets return to more normalized levels."