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Fly News Breaks for July 26, 2018
FFBC
Jul 26, 2018 | 07:35 EDT
As reported earlier, DA Davidson analyst Kevin Reevey upgraded First Financial Bancorp to Buy from Neutral with a price target of $35, saying the valuation on the stock is more attractive at a month-to-date decline of 0.5% relative to the 4.9% rise for the Nasdaq bank index. The analyst adds that the bank is now trading at 11.9-times his forward earnings estimate, which is a 12% discount relative to the peer group, even though First Financial's operating metrics and "enhanced" growth trajectory suggest that it should trade at a premium.
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