Piper Sandler upgraded 1st Source (SRCE) to Overweight from Neutral with a price target of $72.50, up from $70. The firm expects “superior” operating leverage and profitability this year from 1st Source. The stock’s current valuation discount to peers offers a “highly attractive entry point,” the analyst tells investors in a research note. Piper also favors the company’s “differentiated” lending verticals that it says have upside growth potential this year and its more conservative credit profile.
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