Piper Sandler lowered the firm’s price target on PennyMac Financial (PFSI) to $112 from $122 and keeps an Overweight rating on the shares. The firm notes PennyMac posted a beat versus the Street, but came in below Piper’s estimates. Piper remains bullish but believes PennyMac will need to build credibility in 2026 and 2027 by hitting its stated ROE targets over the near and long-term.
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