Preferred Bank price target raised to $105 from $88 at Piper Sandler

Piper Sandler raised the firm’s price target on Preferred Bank to $105 from $88 and keeps an Overweight rating on the shares. The firm increases its 2024/2025 EPS to $9.62/$8.10 from $9.23/$8.00, respectively, based on lower LLPs offset partially by a lower net interest margin outlook and higher NIE.