German American Bancorp price target lowered to $48 from $49 at Piper Sandler

Piper Sandler lowered the firm’s price target on German American Bancorp (GABC) to $48 from $49 and keeps a Neutral rating on the shares. The firm notes the company generated strong Q4 results given 16% pre-provision net revenue upside stemming from higher net interest income that benefited from greater net interest margin expansion and MSD loan growth.