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Fly News Breaks for November 16, 2016
PB
Nov 16, 2016 | 08:15 EDT
As previously reported, Morgan Stanley downgraded Prosperity Bancshares to Underweight from Equal Weight and reduced its Midcap Bank industry view to Cautious. Analyst Ken Zerbe said Prosperity Bancshares valuation has recovered and believes shares could underperform given exposure to a weaker Texas economy, NIM pressure, and mid-single-digit loan growth. Zerbe raised his price target on Prosperity Bancshares to $58 from $56.
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