Washington Trust upgraded to Neutral at Piper Sandler after Q4 results

As previously reported, Piper Sandler analyst Mark Fitzgibbon upgraded Washington Trust (WASH) to Neutral from Underweight with a price target of $32, up from $28. Following Q4 results and guidance, the firm is raising its 2026 and 2027 EPS estimates, telling investors that it believes the better forward outlook and recent change in peer multiples supports a thesis that shares should perform in-line with peers.