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Fly News Breaks for January 10, 2019
FRC
Jan 10, 2019 | 07:15 EDT
As previously reported, BofA/Merrill downgraded First Republic to Neutral from Buy and cut its price target to $94. Analyst Erika Najarian said First Republic's best in class revenue growth is already reflected in valuation and the flat yield curve poses risk to net interest margin. Najarian also expects challenges to investment advisory fees due to difficult markets and efficiency to be down.
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