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Fly News Breaks for October 21, 2016
SBNY
Oct 21, 2016 | 09:12 EDT
As previously reported, BMO Capital downgraded Signature Bank to Market Perform and lowered its price target to $128. Analyst Lana Chan said the New York taxi portfolio is a lingering concern and a proactive reserve build or mark down would relieve an overhang. Additionally, Chan said a less favorable mix shift in asset growth will reduce earnings upside.
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