Piper Sandler downgraded 1st Source to Neutral from Overweight with a price target of $67.50, up from $60. The firm cites valuation for the downgrade after the shares closed at a new all-time high on Friday. The analyst continues to believe 1st Source is a solid long-term holding given its “superior profitability over various cycles with its very conservative credit profile,” however.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SRCE: