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Fly News Breaks for September 7, 2017
SBNY
Sep 7, 2017 | 05:14 EDT
Jefferies analyst Casey Haire removed Signature Bank from his firm's Franchise Picks list and cut his price target for the shares to $145 from $169 after hosting an investor lunch with CEO Joe DePaolo. The tone overall was "weak" with deposit formation "choppy" and tougher net interest margin dynamics given the flatter yield curve, Haire tells investors in a research note. The analyst keeps a Buy rating on Signature Bank citing an attractive valuation.
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