As previously reported, Piper Sandler analyst Stephen Scouten upgraded South Plains Financial (SPFI) to Overweight from Neutral with a price target of $48, up from $45. The firm notes it spent time with management at an analyst update event and came away more upbeat about its position within the small cap TX banking landscape. The shares have underperformed marginally since Q3 2025 earnings, but after a couple of years of stagnant loan growth, Q4 2025 loan growth encouraged and the opportunity set in the Houston MSA continues to improve, Piper adds.
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