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Fly News Breaks for July 16, 2018
FRC
Jul 16, 2018 | 08:37 EDT
BMO Capital analyst Lana Chan raised her price target on First Republic to $102 after its Q2 earnings beat that was driven "solely by a lower tax rate". Chan notes that while the company continues to generate "impressive" growth in lending, deposits, and assets under management, the positive developments are already reflected in its "5-multiple premium to smid-cap peers". The analyst keeps her Market Perform rating on First Republic.
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