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Fly News Breaks for October 21, 2018
FFBC
Oct 21, 2018 | 18:32 EDT
Keefe Bruyette analyst Christopher McGratty upgraded First Financial Bancorp to Outperform while lowering his price target for the shares to $32 from $34. Following Friday's 9% pullback the shares now trade at a mid-single-digit relative price-to-earnings discount despite "top-quartile" profitability and a "safe" balance sheet, McGratty tells investors in a research note. He says the recent selloff is what he's been waiting for to get more constructive on the stock.
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