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Fly News Breaks for January 4, 2018
OZRK
Jan 4, 2018 | 07:10 EDT
Brean Capital analyst Blair Brantley noted Bank of the Ozarks announced a change in accounting method with the IRS regarding its loan portfolio and loan origination fees. The change will lead to a new DTL position and lowering of the corporate tax rate, leading to a tax benefit in excess of $40M. The analyst believes the unwarranted valuation gap will narrow as the company continues to produce strong organic growth. Brantley reiterated his Buy rating and $65 price target on Bank of the Ozarks shares.
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