Fly News Breaks for July 16, 2018
OZRK
Jul 16, 2018 | 06:20 EDT
Piper Jaffray analyst William Curtiss lowered his price target for Bank of the Ozarks to $52 from $59 following the company's Q2 results but keeps an Overweight rating on the name. Concerns continue to center around the growth outlook, deposit beats, net interest margin pressure and credit, Curtiss tells investors in a research note. The analyst, however, believes the stock's "upside from here far exceeds downside risk." He estimates potential downside to be 20% "in a no growth and severe margin pressure scenario." Conversely, the analyst sees 53% upside if Bank of the Ozarks is able produce loan growth in excess of 2017's level and the margin remains flat. Even if results came in closer to current consensus expectations, there is still an implied 26% upside, Curtiss contends.
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