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Fly News Breaks for July 9, 2019
FRME
Jul 9, 2019 | 06:32 EDT
Stephens analyst Terry McEvoy upgraded First Merchants to Overweight from Equal Weight with a $44 price target. The Stephens Bank Research team is now assuming a 25 basis point reduction in the Fed Funds rate in July, September and December 2019 and none in 2020. To reflect his updated estimates, year-to-date stock performance and valuations, McEvoy made a number of rating changes in the Financial Services space.
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