Piper Sandler Maintains Neutral Rating for Servisfirst Bancshares: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Piper Sandler has maintained a Neutral rating for Servisfirst Bancshares (NYSE:SFBS) but raised its price target from $55.00 to $64.00. Despite this, SFBS shares are currently trading down at $67.00, which is 1.73% lower than the last 24 hours. The new price target suggests a potential downside of 4.48% from the current share price.
January 30, 2024 | 5:00 pm
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Piper Sandler maintains a Neutral rating on SFBS but increases the price target to $64, suggesting a potential decrease in stock price from the current level.
The maintenance of a Neutral rating by Piper Sandler indicates no significant change in the company's outlook. However, the increase in the price target to $64, which is below the current trading price, could be interpreted by the market as a signal that the stock is overvalued, potentially leading to a short-term negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100