PIPR - Piper Sandler: Sponsor Activity Actually Grows
2024-02-05 03:23:36 ET
Summary
- Piper Sandler's revenues from sponsor activity grew despite a decline in overall sponsor activity in 2023 for the industry.
- The company's restructuring business thrived due to its position in regional banking and advisory work for FDIC earlier in the year.
- But advisory also surprised this quarter despite some expected headwinds, which might have frontloaded some results but still warrants remark.
- Muni financing also looks a lot better thanks to the improvement in higher yield markets after an abysmal 2023.
- Still a little pricey for us to be comfortable with.
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Piper Sandler: Sponsor Activity Actually Grows