Piper Sandler downgraded Chain Bridge Bancorp (CBNA) to Neutral from Overweight with an unchanged price target of $29. The firm cites valuation for the downgrade, noting the shares have risen 23% since the initial public offering in October 2024. The company has an “excellent strategy” and a conservative balance sheet, but there is now more limited near-term upside potential in the stock, the analyst tells investors in a research note.
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