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Fly News Breaks for November 30, 2015
NYCB
Nov 30, 2015 | 09:04 EDT
As previously reported, BofA/Merrill upgraded New York Community Bancorp (NYCB) to Buy and increased its price target to $18 from $17 on shares. Analyst Ebrahim Polygonal said shares have re-rated following the acquisition announcement of Astoria Financial (AF) and views risk/reward as compelling. Poonawala recommends shares given expectations for accelerating growth, potential upside to deal synergies, and views it as a defensive play against low interest rates.