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Fly News Breaks for April 11, 2019
Apr 11, 2019 | 07:47 EDT
Baird analyst Garrett Holland assumed coverage of First Interstate with a Neutral rating and $42 price target, saying he likes the company's community banking model, low-cost deposit franchise, and quality-minded M&A strategy. However, he says that the cyclical industry headwinds from slowing spread revenue growth should not be underestimated, resulting in a more balanced financial outlook. Shares trade at a deserved earnings premium to peers and look close to fair value, the analyst contends.
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