Washington Trust upgraded to Neutral at Piper Sandler after Q3 report

Piper Sandler upgraded Washington Trust (WASH) to Neutral from Underweight with a price target of $34, up from $30. In light of the quarterly results and updated guidance from the company, the firm is raising its Q4 EPS estimate by 4c to 62c and its 2025 EPS estimate by 10c to $2.69, noting that the changes largely reflect expectations for somewhat lower credit costs and higher fee revenues than previously anticipated.