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Fly News Breaks for October 8, 2019
CADE
Oct 8, 2019 | 07:32 EDT
Raymond James analyst David Long downgraded Cadence Bancorp to Market Perform from Outperform without a price target. The analyst cites the stock's outperformance over the past month as well as his expectations for decelerating loan growth and continued credit migration within Cadence's energy and restaurant franchise segments near-term for the downgrade. Continued credit deterioration will overshadow the positives in the short term, Long tells investors in a re research note.
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