Primis Financial price target raised to $15 from $12.50 at Piper Sandler

Piper Sandler raised the firm’s price target on Primis Financial to $15 from $12.50 and keeps an Overweight rating on the shares following earnings, with a better net interest income outlook and lower tax rate only partially offset by slightly higher expenses and assumptions for a lower mortgage revenue build than previously modeled. Q4 results delivered, and Piper has more confidence that Primis will be operating with a 1%+ ROA in the second half of 2024.