WSFS Financial assumed with a Neutral at Piper Sandler

Group 1 - Piper Sandler has initiated coverage of WSFS Financial (WSFS) with a Neutral rating and a price target of $62, reflecting a cautious outlook amidst building market optimism for banks [1] - The analyst's forecast for WSFS is based on expectations of a gradual decrease in short-term rates by the Federal Reserve, a modest steepening of the yield curve, and a solid economic backdrop supporting growth and credit through 2027 [1] - Piper Sandler is also assuming coverage of five additional regional banks, indicating a broader interest in the regional banking sector [1]