Simmons First National upgraded to Neutral from Underweight at Piper Sandler

Piper Sandler upgraded Simmons First National (SFNC) to Neutral from Underweight with a price target of $21, up from $20, following the Q1 report. The company’s commentary around loan growth trends, the pace of net interest margin expansion, deposit cost savings, and expense management are encouraging relative to previous expectations, the analyst tells investors in a research note. The firm cites stronger trends in the second half of the fiscal year and help from rates for the upgrade.