Fly News Breaks for January 2, 2020
Jan 2, 2020 | 07:46 EDT
As previously reported, Stephens analyst Tyler Stafford upgraded Umpqua Holdings to Overweight from Equal Weight with a price target of $21, up from $16, as he believes the bank should see better execution in 2020, which "marks the precipice for its NextGen operational excellence initiative and carries associated financial incentives." He predicts the efficiency focus will drive a profitability lift and position Umpqua in the "select group of banks" that will expand ROA and ROTCE through 2020/2021, Stafford tells investors.
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