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Fly News Breaks for May 17, 2018
BCML
May 17, 2018 | 06:11 EDT
DA Davidson analyst Gary Tenner initiated BayCom with a Buy rating and a price target of $28, saying the company's IPO proceeds are funding its M&A-focused growth strategy. The analyst says its organic growth target of mid-single digits is being "augmented" by acquisitions within a 6-state target area. Tenner expects more transactions to be announced over the intermediate term while also noting that BayCom has a record of a "disciplined buyer".
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