Piper Sandler price target lowered to $174 from $180 at JMP Securities

JMP Securities lowered the firm’s price target on Piper Sandler to $174 from $180 and keeps an Outperform rating on the shares. While the firm sees a "difficult" earnings season ahead, it still sees opportunities near- and long-term, the analyst tells investors in a research note. JMP believes signs of cash stabilization will be necessary to build conviction for deposit-funded retail brokerages and wealth management IBs.