Associated Banc-Corp price target lowered to $24 from $25 at Piper Sandler

Piper Sandler lowered the firm’s price target on Associated Banc-Corp (ASB) to $24 from $25 and keeps a Neutral rating on the shares following a slightly better-than-expected Q1. But the bigger takeaway is a little upward pressure on Piper’s EPS estimates. While much of the increase is due to an improved credit cost expectation, the net interest income trajectory feels even sturdier, as well. Given the Q1 beat and solid outlook, the firm expects the shares to respond well on Friday.