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Fly News Breaks for January 23, 2018
CSTR
Jan 23, 2018 | 06:54 EDT
Stephens analyst Tyler Stafford downgraded CapStar Financial to Underweight from Equal Weight, contending that shares are overvalued, particularly considering the company's "less than stellar" public bank track record and peer-lagging tax-adjusted 2018 ROTCE of 11%. Stafford sees downside risk as CapStar attempts to force its largest shareholder to divest a potentially significant portion of its ownership and sees an outright sale to another bank as unlikely, he tells investors. The analyst lowered his price target on CapStar shares to $18 from $19.
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