Cathay General price target raised to $36 from $32 at Piper Sandler

Piper Sandler raised the firm’s price target on Cathay General to $36 from $32 and keeps an Underweight rating on the shares. The firm notes Cathay General posted operating EPS of 94c, was in-line with consensus and above its 93c estimate due to higher NIE offset by the tax rate, LLP, and net interest income.