On Monday, Piper Sandler maintained its Neutral rating on Citizens & Northern (NASDAQ:CZNC) with a steady price target of $22.00. The firm's assessment suggests that the market has appropriately valued the company's shares, with an anticipated upside of approximately 7% to the stated target.
The investment firm's analysis indicates that Citizens & Northern's stock is projected to trade at roughly 12 times its estimated 2025 earnings per share (EPS) of $1.83. This valuation is consistent with the market multiples of peers that have similar profitability profiles. According to Piper Sandler, this estimation aligns with the current market conditions and justifies the Neutral rating.
The methodology employed by Piper Sandler to arrive at the 12-month price target involves an expectation that Citizens & Northern's shares will trade at about 145% of its tangible book value per share (TBVPS) within a year. This projection is based on the firm's evaluation of the company's financials and market comparisons.
Citizens & Northern's current valuation relative to its peers has been a key factor in Piper Sandler's rating. The firm's stance indicates that, at the present time, there is no compelling reason to adjust the rating or price target based on the available financial metrics and market performance.
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