Cass Information Systems price target raised to $45 from $44 at Piper Sandler

Piper Sandler analyst Frank Schiraldi raised the firm’s price target on Cass Information Systems (CASS) to $45 from $44 and keeps an Overweight rating on the shares after third quarter earnings. Piper noted that while general weakness continues to be driven by the ongoing freight recession, this had already been more than accounted for in the firm’s numbers. Overall, trends were “somewhat promising” and the firm said it sees the potential for continued business wins in both the facilities as well as transportation business.