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Fly News Breaks for December 13, 2018
UBSH, CADE
Dec 13, 2018 | 07:53 EDT
Baird analyst Bryce Rowe maintained an Outperform rating on Cade Bancorp (CADE) and cut his price target to $28 from $32, telling investors in a research note that Cadence is his top idea. Rowe says regional banks have underperformed the broader markets since early summer and that he believes there is ~15%-20% absolute upside available in small-cap bank stocks if a risk-on trade reemerges and that small-cap bank stocks can outperform on a relative basis should broader market weakness persist. The analyst also upgraded Union Bankshares (UBSH) this morning to Outperform.
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