First Commonwealth price target lowered to $16 from $17 at Piper Sandler

Piper Sandler analyst Frank Schiraldi lowered the firm’s price target on First Commonwealth (FCF) to $16 from $17 and keeps a Neutral rating on the shares. The firm notes the company reported Q3 EPS of 31c, and after excluding one-time expenses, it pegs core at 32c. The result came in 3c below Piper’s estimate and 4c below consensus.