Northwest Bancshares assumed with a Neutral at Piper Sandler

Piper Sandler analyst Manuel Navas assumed coverage of Northwest Bancshares (NWBI) with a Neutral rating and $13 price target In a time of some building market optimism for banks, the analyst is assuming coverage of five more regional banks. Piper highlights a positive earnings backdrop. The firm bases its forecast through 2027 on its expectations for a steady march lower by the Federal Reserve in short-term rates, a modest steepening in the yield curve, and a solid economic backdrop for growth and credit.