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Fly News Breaks for May 24, 2017
XBKS, UBSH
May 24, 2017 | 06:38 EDT
Raymond James analyst William Wallace upgraded Union Bankshares (UBSH) to Strong Buy and raised his price target for the shares to $41 from $38 after the company reached an agreement to acquire Xenith Bankshares (XBKS). The deal establishes Union as the largest regional bank in Virginia, Wallace tells investors in a research note. He views the stock as undervalued.
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