Piper Sandler ups German American Bancorp to 'overweight' citing discounted valuation

Piper Sandler upgrades community lender German American Bancorp GABC.O to "overweight" from "neutral" based on discounted valuation

Brokerage says GABC's well-above average profitability outlook has upside potential given number of company-specific catalysts such as fixed-rate asset repricing, strong loan pipelines, and robust core fee income growth

Maintains $47 PT on GABC, implying an 18% upside to stock's last close

"Excess capital growth will likely provide GABC with added flexibility to pursue additional well-received M&A" - Piper Sandler

4 of 6 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $46.50 - data compiled by LSEG

As of last close, GABC stock up 1.6% YTD