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Fly News Breaks for February 12, 2018
HTBK
Feb 12, 2018 | 06:36 EDT
DA Davidson analyst Gary Tenner upgraded Heritage Commerce to Buy from Neutral with a $17.50 price target, saying the company is positioned for a strong 2018 thanks to the positive impact of the tax cut, pending acquisitions, and an "enviable" deposit base. Tenner notes that the 10% decline in the stock price from the recent highs offers an attractive value given its low loan-to-deposit ratio and ability to control deposit costs.
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