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Fly News Breaks for December 21, 2016
NYCB, AF
Dec 21, 2016 | 05:57 EDT
Piper Jaffray analyst Matthew Breese upgraded Astoria Financial (AF) to Overweight saying the company is an "attractive long for new money investors" following the termination of the New York Community Bancorp (NYCB) takeover. Astoria trades at just a 5% deposit premium versus peers at 12%, Breese tells investors in a research note. He raised his price target for the shares to $19.50 from $17. FBR Capital this morning downgraded Astoria Financial to Underweight. Breese keeps an Underweight rating on New York Community Bancorp with a $14 price target.
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