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Fly News Breaks for May 25, 2017
SBNY
May 25, 2017 | 06:48 EDT
Jefferies analyst Casey Haire added Signature Bank to his firm's Franchise Picks list. Management is warming up to selling the company's medallion portfolio, and such a move would be a "meaningfully positive catalyst for the stock," Haire tells investors in a research note. Signature shares are trading at a 12% discount despite a superior organic growth profile, the analyst contends. Haire has a Buy rating on the stock with a $175 price target.
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