Alexander & Baldwin price target raised to $24 from $23 at Piper Sandler

Piper Sandler raised the firm’s price target on Alexander & Baldwin to $24 from $23 and keeps an Overweight rating on the shares following quarterly results. The firm says management deserves credit for delivering quicker with better performance on its transformed pure play Hawaiian focused REIT. Operations are proving stronger than Piper expected, evidenced by 2025 guidance exceeding, while cost-cutting from the rapid wind down of the legacy land business.