Piper Sandler cuts PT on Live Oak as recession fears cloud forecast

Live Oak Bancshares

29/06/2022 11:26

** Piper Sandler slashes PT on Live Oak Bancshares Inc
 LOB.O  to $40 from $51, citing pressure on the banking sector
and increased risks of a recession
    ** New PT represents a 16.4% upside to stock's last close
compared with a 48.4% upside for the previous PT
    ** Due to inflation and LOB's hiring plans, expenses will
continue to grow in 2022 - Piper Sandler
    ** Stock has a consensus rating of "buy" and a median PT of
$47 - Refinitiv data
    ** Shares have tumbled 61% this year, as of last close 

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))