ACNB Corp. price target raised to $58 from $57 at Piper Sandler

Piper Sandler raised the firm’s price target on ACNB Corp. (ACNB) to $58 from $57 and keeps an Overweight rating on the shares. The firm says Q1 results looked good at ACNB. While Piper thinks the bank could’ve adequately weathered Fed cuts, a higher-for-longer rate environment is in its opinion an incrementally more positive scenario for ACNB, and the firm believes there’s at least stability if not some upside in an already peer-leading 4%-plus net interest margin. The bank is one of the most conservative yet also profitable names under Piper’s coverage, and the firm continues to think shares warrant a greater premium versus peers.