Northeast Bank assumed with an Overweight at Piper Sandler

Piper Sandler analyst Mark Fitzgibbon assumed coverage of Northeast Bank with an Overweight rating and $80 price target. The analyst thinks the company “has carved out a uniquely profitable niche” and expects it to continue to produce “peer-beating profitability metrics.” The risk is “very well managed at this company,” the analyst tells investors in a research note.