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Fly News Breaks for July 20, 2018
SBNY
Jul 20, 2018 | 06:36 EDT
JPMorgan analyst Steven Alexopoulos downgraded Signature Bank to Neutral and lowered his price target for the shares to $130 from $150. The analyst "no longer see the roadmap" for Signature Bank shares to outperform peers. The analyst believes net interest margin pressure will limit share upside. Further, risks of "another re-rating" are mounting as more and more banks talk about the commercial real estate lending environment turning irrational, Alexopoulos tells investors in a research note.
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