Central Bancompany price target raised to $31 from $30 at Piper Sandler

Piper Sandler raised the firm’s price target on Central Bancompany (CBC) to $31 from $30 and keeps an Overweight rating on the shares following strong Q1 results and as shares are likely to garner a greater forward price to earnings premium. Expected catalysts include an expanding unmatched ROA outlook with likely net interest margin upside that should drive at least high single digit annual net interest income growth, mid-single digit core fee income increases, top tier cost controls, and continued benign credit quality, Piper adds.