BofA cuts Piper Sandler stock price target on weak Q4 outlook
BofA Securities reduced Piper Sandler's (PIPR) price target to $69 from $75, maintaining an Underperform rating. Q3 earnings per share missed estimates at $0.87, with revenue meeting forecasts. BofA cited a weak Q4 outlook, projecting a 14% YoY revenue decline and lowering its Q4 EPS estimate to $1.16. PIPR stock is down 19% YTD, trading at $67.42.



