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Fly News Breaks for July 1, 2019
SBNY
Jul 1, 2019 | 07:09 EDT
Morgan Stanley analyst Ken Zerbe upgraded Signature Bank to Overweight from Equal Weight, citing his view that the bank is well positioned to benefit from falling rates. He also sees above-peer loan growth for Signature as the company intentionally deemphasizes New York City CRE and believes concerns about Signature's exposure to the new NYC rent regulations have been overblown. Zerbe, who also sees the possibility for upside from capital return, raised his price target on the stock to $146 from $142.
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