Piper Sandler analyst Nathan Race raised the firm’s price target on German American Bancorp (GABC) to $47 from $44 and keeps a Neutral rating on the shares. The firm says the company again generated impressive results in Q4 given 5% PPNR upside via stronger net interest income with net interest margin expansion and solid balance sheet growth. NPLs ticked up off a low base; however, Piper expects credit quality to remain a non-issue.
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