Kearny Financial upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler upgraded Kearny Financial (KRNY) to Overweight from Neutral with a price target of $8.50, down from $9. Since the end of 2023, shares of Kearny have fallen 24%, the analyst tells investors in a research note. The firm says the company is now trading at just 70% of tangible book value, versus peer banks at 97%. It believes the risk/reward in Kearny Financial shares has become attractive again.