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Fly News Breaks for April 22, 2019
TBK
Apr 22, 2019 | 06:08 EDT
Piper Jaffray analyst Brett Rabatin downgraded Triumph Bancorp to Neutral from Overweight and lowered his price target for the shares to $32.50 from $40.50. For the valuation to improve, "clear evidence of a ramp-up in profitability will need to occur," Rabatin tells investors in a research note. The analyst says the downgrade and his reduced estimates reflect potentially slowing revenue trends and lower visibility of reaching management's target of a 1.8% return on assets.
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