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Fly News Breaks for July 22, 2015
SBNY
Jul 22, 2015 | 08:59 EDT
Raymond James upgraded Signature Bank to Strong Buy and increased its price target to $168 from $150 following Q2 results. The firm believes weakness following management comments about a potential capital raises and the performance of its Chicago based medallion portfolio are overblown. The firm expects above-peer growth to continue and views the pullback as an opportunity to own one of the best organic growth stories in commercial banking.
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