Piper Sandler has adjusted its price target for Associated Banc-Corp (ASB, Financial) from $25 to $24. Despite the revised target, Piper Sandler maintains a Neutral rating on the stock. This decision follows a first-quarter performance that slightly exceeded expectations.
A significant aspect influencing the firm's assessment is the upward adjustment in earnings per share (EPS) estimates. This revision is largely attributed to improved forecasts for credit costs. Additionally, the bank's net interest income shows promising stability, reinforcing confidence in its earnings trajectory.
Given the better-than-anticipated Q1 results and a robust outlook, Piper Sandler anticipates a positive market reaction to ASB shares on Friday.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Associated Banc-Corp (ASB, Financial) is $26.78 with a high estimate of $29.00 and a low estimate of $24.00. The average target implies an upside of 21.61% from the current price of $22.02. More detailed estimate data can be found on the Associated Banc-Corp (ASB) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Associated Banc-Corp's (ASB, Financial) average brokerage recommendation is currently 2.8, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Associated Banc-Corp (ASB, Financial) in one year is $26.74, suggesting a upside of 21.44% from the current price of $22.02. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Associated Banc-Corp (ASB) Summary page.
