Unity Bancorp price target raised to $54 from $53 at Piper Sandler

Piper Sandler raised the firm’s price target on Unity Bancorp (UNTY) to $54 from $53 and keeps an Overweight rating on the shares. The firm notes Unity Bancorp reported Q4 EPS of $1.13, and excluding a one-time valuation-related SERP adjustment as well as normalizing the tax rate, it pegs core at $1.14. The result came in above Piper’s $1.09 estimate and consensus at $1.06.