Central Bancompany price target raised to $30 from $28 at Piper Sandler

Piper Sandler raised the firm’s price target on Central Bancompany (CBC) to $30 from $28 and keeps an Overweight rating on the shares following the first earnings report and conference call after IPO/up-listing completed late last year. In the firm’s view, Central Bancompany remains poised for multiple expansion above certain high-performing peers as its already superior ROA further expands via solid operating leverage with at-least mid-single digit annual growth in both net interest income and core fee income.