Central Pacific assumed with an Overweight at Piper Sandler

Piper Sandler assumed coverage of Central Pacific (CPF) with an Overweight rating and $35 price target The Hawaii banks are positioned well to improve profitability by increasing net interest income despite low-single-digit loan and deposit growth outlooks, the analyst tells investors in a research note. Piper’s favorite name in the group is Central Pacific due to its discounted relative valuation despite a competitive profitability outlook.