Pathward Financial (CASH) PT Raised to $75 at Piper Sandler

Piper Sandler analyst Frank Schiraldi raised the price target on Pathward Financial (NASDAQ: CASH) to $75.00 (from $68.00) while maintaining a Overweight rating.

The analyst commented, "CASH reported C2Q EPS of $1.66. A one-time gain on Visa shares and some nonrecurring expense including an impairment charge effectively offset each other, and we peg core at the reported number. This represents a 7% beat versus consensus and 12% beat versus our expectations. The primary deltas were a $0.05 beat on NII and $0.13 on a lower tax rate. Importantly, mgmt provided preliminary 2025 earnings expectations of $7- 7.50 a share. The midpoint here represents a 7% increase versus current consensus and 12% yr/yr earnings growth. Investors will certainly welcome the increase in earnings however may be surprised by the drivers (more NII than fees). Given the recent appreciation in shares we wouldn't necessarily expect another significant leg up here after earnings. That said we continue to think the stock is attractive over the next 12 months and reiterate our OW rating."

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