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Fly News Breaks for April 20, 2018
SBNY
Apr 20, 2018 | 05:20 EDT
Wells Fargo analyst Jared Shaw upgraded Signature Bank to Outperform and raised his price target for the shares to $160 from $155. Another round of taxi related charge-offs in Q1 masked some stabilizing trends which should benefit the company in the second half of 2018 and 2019, Shaw tells investors in a research note. The analyst feels much of the negative sentiment is already baked into expectations, with potential upside coming from the SIFI threshold being lifted and potential second half of 2018 capital actions.
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