Community Trust assumed with an Overweight at Piper Sandler

Piper Sandler assumed coverage of Community Trust (CTBI) with an Overweight rating and $66 price target which offers 20% upside. The company’s has shown above-average profitability and its valuation “disconnect” to peers offers upside potential, the analyst tells investors in a research note. Piper likes Community Trust’s balance sheet and “shareholder friendly” capital deployment.