NewtekOne price target raised to $12 from $11.50 at Piper Sandler

Piper Sandler analyst Crispin Love raised the firm’s price target on NewtekOne (NEWT) to $12 from $11.50 and keeps a Neutral rating on the shares. The firm notes NewtekOne posted 52c in EPS, which matched the Street at 52c and came in a penny below its 53c estimate. Piper would characterize the quarter as mostly in-line, but the company did benefit from a $32M net gain on residuals in securitizations.