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Fly News Breaks for July 2, 2019
Jul 2, 2019 | 06:06 EDT
Piper Jaffray analyst Matthew Breese upgraded Meridian Bancorp to Overweight from Neutral and raised his price target for the shares to $20 from $18.50. With the likelihood of a Fed cut now a high probability event, investors will continue to look for banks that benefit, especially those outside of metro New York City, Breese tells investors in a research note. The analyst believes Meridian makes sense as a "liability-sensitive play."