United Community Banks price target raised to $35 from $32 at Piper Sandler

Piper Sandler raised the firm’s price target on United Community Banks (UCB) to $35 from $32 and keeps a Neutral rating on the shares. The firm thinks that additional upside to our estimates would most likely come on a higher-than-expected net interest margin on the path of CD re-pricings and the impact of even faster potential loan growth. Piper is staying on the sidelines as it sees the price to earnings multiple as a bit ahead of peers currently.