QCR Holdings price target lowered to $88 from $98 at Piper Sandler

Piper Sandler lowered the firm’s price target on QCR Holdings (QCRH) to $88 from $98 and keeps an Overweight rating on the shares. While Q1 included some disappointments and contributed to downward pressure on the firm’s EPS estimates, QCR’s higher quality and differentiated franchise is substantially undervalued at shares’ current valuation, in Piper’s view, particularly following 5% year-to-date underperformance vs. the NASDAQ Bank Index. The firm believes an expected rebound in QCR’s arguably higher multiple LIHTC vertical as well as other company-specific factors are likely to drive both upside to estimates and future price to earnings expansion.