Piper Sandler has initiated coverage on Abbott Laboratories (ABT), highlighting the company’s diversified business model, strong growth potential, and attractive valuation despite ongoing litigation. Analyst Adam C. Maeder initiated coverage with an Overweight rating and a price target of $131, citing Abbott’s solid growth prospects and discount compared to its peers.
Peapack-Gladstone Financial Corp. (NASDAQ: PGC) shares experienced a significant decline of 7.8% during Wednesday’s trading session. This substantial drop followed a downgrade from Piper Sandler, which changed its rating on the regional bank to Neutral from Overweight. The downgrade was prompted by worse-than-expected first-quarter results and concerns about the company’s overall financial outlook.
Spotify’s recent financial performance has impressed analysts, leading to a price target increase by Piper Sandler. The company’s strong gross margin, surpassing expectations, and positive guidance for operating income have contributed to this adjustment. Spotify’s proactive marketing strategy and commitment to margin improvement have also been recognized.
Blackline (NASDAQ: BL) stock jumped 5.2% after Piper Sandler upgraded the stock’s rating to Neutral and raised the price target from $55 to $62. The analyst cited improving cloud fundamentals at Blackline’s partner, SAP, as the reason for the upgrade. The stock has since cooled down to $60.87, up 4.1% from the previous close.
