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Fly News Breaks for July 12, 2019
Jul 12, 2019 | 06:48 EDT
RBC Capital analyst Steven Duong initiated Sterling Bancorp with an Outperform rating and a price target of $26. The analyst believes that the stock is trading at a "steep" discount relative to the company's "best-in-class" financial performance metrics and minimal credit deterioration expected in 2020. Duong is also positive on Sterling Bancorp's "sizable" operating leverage, which he expects to continue through 2020 driven by balance sheet and business optimization.
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