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Fly News Breaks for October 24, 2019
CADE
Oct 24, 2019 | 06:06 EDT
Piper Jaffray analyst Brett Rabatin downgraded Cadence Bancorp to Neutral from Overweight with a price target of $16.50, down from $20. The analyst has lower confidence in the company's quarterly earning power due to provisioning risk. It is tough to recommend the shares when valuation expansion is unlikely, provisioning is difficult to predict, and growth expectations are at risk, Rabatin tells investors in a research note.
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