PENNYMAC FINANCIAL SERVICES INC : PIPER SANDLER CUTS TO NEUTRAL FROM OVERWEIGHT; CUTS TARGET PRICE TO $86 FROM $106
Piper Sandler has downgraded PennyMac Financial Services Inc. (PFSI) from Overweight to Neutral, while also reducing its target price for the company's stock to $86 from the previous $106. This adjustment indicates a revised outlook from the financial firm regarding PennyMac's future performance.