Wintrust Financial price target raised to $125 from $113 at Piper Sandler

Piper Sandler raised the firm’s price target on Wintrust Financial to $125 from $113 and keeps an Overweight rating on the shares. The underperformance related to management’s forward NIM commentary was unwarranted given Wintrust’s various levers to limit material NIM downside as Fed rate cuts unfold, the analyst tells investors in a research note. The firm views Wintrust’s current forward P/E discount vs. peers as an attractive entry point with NII growth expected to continue at above average clips, some likely moderation in credit costs and its superior operating leverage outlook.