Veritex price target raised to $26 from $25 at Piper Sandler

Piper Sandler raised the firm’s price target on Veritex to $26 from $25 and keeps an Overweight rating on the shares. Shares have traded back up in-line with the group after trading lower in the AM, the firm notes. Given that the bank continues to de-risk the b/s, credit metrics have stabilized, and the asset sensitive balance sheet is helped by fewer expected rate cuts – Piper sees this as warranted.