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Fly News Breaks for June 11, 2018
PNFP
Jun 11, 2018 | 07:38 EDT
Stephens analyst Tyler Stafford noted that Pinnacle Financial shares underperformed ahead of the company's investor day, which he attributes to investors questioning its core NIM trajectory and ability to achieve Street estimates given funding pressures. However, he believes sentiment is "much improved" from investors following the event, citing what he views as a clear comfort level from management around achieving and/or beating existing 2018 and 2019 EPS estimates and greater clarity around funding pressures, which Stafford said are mainly related to stronger than expected loan growth. He keeps an Overweight rating on Pinnacle Financial shares and bumped up his price target on the stock to $75 from $74.
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