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Fly News Breaks for December 15, 2016
TCBI
Dec 15, 2016 | 07:18 EDT
BofA/Merrill analyst Erika Najarian upgraded Texas Capital to Buy and raised its price target to $90 from $74 saying it will benefit from stabilizing oil prices and the improved macro environment. The analyst expects superior earnings growth to be driven by rising rates, a stronger economic growth outlook, and potential reserve release in the energy book. Further, Najarian expects valuation to benefit from increased activity in larger bank M&A given its exposure to fast growth markets and businesses.
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