Popular price target lowered to $100 from $112 at Piper Sandler

Piper Sandler analyst Frank Schiraldi lowered the firm’s price target on Popular (BPOP) to $100 from $112 and keeps an Overweight rating on the shares. The firm notes Popular reported EPS of $2.16 in Q3, or core of $2.15, which excludes net securities gains. The miss was largely split between lower net interest income, and higher provisioning. That said, the lower net interest income got the attention resulting in a reduction in 2025 run rate and concerns over additional deposit outflows that could potentially drive NII lower, Piper adds.