DA Davidson lowered the firm’s price target on CVB Financial to $18 from $19 and keeps a Neutral rating on the shares after hosting investor meetings with its management to discuss the industry’s recent liquidity issues, the outlook for growth in 2023, and asset quality. While the firm continues to view CVB as a "safe haven stock", this is largely already reflected in the company’s premium valuation, the analyst tells investors in a research note.
Published first on TheFly
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