Piper Sandler Upgrades German American Bancorp Inc. (GABC) to Overweight

Piper Sandler analyst Nathan Race upgraded German American Bancorp Inc. (NASDAQ: GABC) from Neutral to Overweight with a price target of $47.00.

The analyst comments: "We upgrade GABC to Overweight from Neutral based on its relatively discounted valuation compared to shares' historical ~2.5x forward P/E premium over peers and its well-above average profitability outlook that likely has upside potential given a number of company- specific catalysts (see below details). More specifically on valuation, GABC currently trades at only 10.3x/9.7x our above consensus 2026E/2027E EPS vs. peers at 9.7x/9.2x. We maintain our PT at $47 that is based on 11.5x our 2027E and consistent with GABC's aforementioned L-T historical forward P/E premium over peers."

For an analyst ratings summary and ratings history on German American Bancorp Inc. click here. For more ratings news on German American Bancorp Inc. click here.

Shares of German American Bancorp Inc. closed at $39.82 yesterday.

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