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Fly News Breaks for March 8, 2019
STI, BBT
Mar 8, 2019 | 08:12 EDT
Odeon Capital analyst Dick Bove initiated BB&T (BBT) with a Buy rating, stating that while the stock's price is currently "relatively high" amid expectations that its combination with SunTrust (STI) will be successful, he thinks the merger is likely to increase growth, making a premium multiple reasonable. The combined company's scale will allow it to increase its technology investments and there is also an opportunity to meaningfully reduce operating costs, Bove added.
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