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Fly News Breaks for January 15, 2020
Jan 15, 2020 | 09:02 EDT
RBC Capital analyst Jon Arfstrom raised his price target on First Republic to $125 after its Q4 earnings beat, saying the quarter saw continued strength in loan growth and fees that helped to offset the expected margin and expense headwinds. The analyst also cites the management's "consistent" 2020 forecast and believes that the bank can continue to post strong loan growth, but he keeps his Sector Perform rating on First Republic given its "well deserved" premium valuation.
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