Piper Sandler raised the firm’s price target on Webster Financial to $60 from $53 and keeps an Overweight rating on the shares. Webster announced it will acquire Ametros Financial Corp, a custodian and administrator of medical funds from private equity firm Long Ridge Equity Partners, and Piper thinks the company is paying a decent amount for earnings that will not flow in that quickly, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on WBS:
- Webster Financial agrees to acquire Ametros for $350M in cash
- Webster Financial files automatic mixed securities shelf
- Citi starts regional banks with Western Alliance, First Horizon among top picks
- Webster Financial initiated with a Buy at Citi
- Webster Financial price target raised to $45 from $42 at Wells Fargo