Enterprise Financial price target lowered to $60 from $65 at Piper Sandler

Piper Sandler analyst Andrew Liesch lowered the firm’s price target on Enterprise Financial (EFSC) to $60 from $65 and keeps an Overweight rating on the shares following quarterly results. The firm says its most notable model changes are a stronger margin forecast, slightly higher fee income, and a larger expense base. Piper is also incorporating the First Interstate branch deal into its model, which is roughly 5% accretive to its 2026 EPS estimate, with a chance for more depending on the pace of loan growth.