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Fly News Breaks for July 18, 2018
FHN
Jul 18, 2018 | 05:21 EDT
UBS analyst Brock Vandervliet downgraded First Horizon National to Neutral and cut his price target for the shares to $19 from $23. The stock is "cheap for a reason," Vandervliet tells investors in a research note following the company's Q2 results. First Horizon's core net interest margin trajectory is lower than previously expected and its capital level prevents a material buyback, making the company a "capital management outlier," the analyst contends.
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