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Fly News Breaks for January 15, 2020
FRC
Jan 15, 2020 | 08:09 EDT
BMO Capital analyst Lana Chan raised her price target on First Republic to $119 after its Q4 earnings beat driven by "lower LLP, better-than-expected loan and deposit growth, and strength in WM fees." The analyst also notes that the net interest margin pressure for the company has been offset, but its premium valuation relative to peers has widened further. Chan is keeping her Market Perform rating on First Republic.
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