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Fly News Breaks for March 4, 2020
FHB
Mar 4, 2020 | 08:56 EDT
As previously reported, Compass Point analyst Laurie Havener Hunsicker downgraded First Hawaiian to Neutral from Buy with a price target of $25, down from $33. Her estimate changes do reflect the indirect impact of COVID-19 fears on U.S. treasury yields and the yield curve inversion in addition to the 50 basis point Fed rate cut, but do not yet reflect an adjustment for credit deterioration if COVID-19 were to substantially damage the U.S. economy, the analyst noted.
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