Live Oak Bancshares price target lowered to $35 from $37 at Piper Sandler

Piper Sandler analyst Crispin Love lowered the firm’s price target on Live Oak Bancshares (LOB) to $35 from $37 and keeps a Neutral rating on the shares. Live Oak posted a beat and credit metrics were relatively stable. With LOB being the #1 SBA player, the government shutdown is top of mind, but commentary on the call helped ease fears with the company preparing ahead of time and being able to fund loans, the firm says. However, if the shutdown lasts into December, there could be impacts to GoS revenue, Piper adds.