Piper Sandler Maintains Neutral Rating for United Community Banks: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Piper Sandler has maintained a Neutral rating on United Community Banks (NASDAQ:UCBI) and increased its price target from $27.00 to $28.00. Despite this, UCBI shares have declined by 0.74% to $29.71, which is above the new target. The bank operates through its subsidiary, Union Community Bank, with a focus on community banking services across Georgia, Tennessee, and the Carolinas.
December 29, 2023 | 5:00 pm
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NEUTRAL IMPACT
Piper Sandler maintains a Neutral rating on United Community Banks but raises the price target from $27.00 to $28.00. UCBI's current trading price is $29.71, which is higher than the new target.
The maintenance of a Neutral rating with a slight increase in the price target suggests Piper Sandler sees limited upside potential for UCBI, which is already trading above the new target. This could lead to a neutral short-term impact on the stock as the market has likely already priced in the current valuation. The slight increase in the price target may not be enough to drive significant investor action.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100