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Fly News Breaks for February 14, 2018
CUBI
Feb 14, 2018 | 06:21 EDT
DA Davidson analyst Russell Gunther initiated Customers Bancorp with a price target of $33, saying the bank has grown organically at a 39% annual rate since its 2012 IPO. The analyst notes that following a write-down of Religare and spin-off of BankMobile in the second of half of this year. Customers Bancorp will "shine" and capture a "valuation re-rate" as its profitability ratios approach peer levels. Gunther keeps his Neutral rating, warning there is some uncertainty overhang around the timing of BankMobile spin-off.
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