Jefferies analyst Casey Haire downgraded Signature Bank to Hold from Buy with a price target of $124, down from $185. With bank stocks facing "another year of uncertainty," Haire and fellow analyst Ken Usdin are shaking up ratings in the group. On the revenue side for the group, their NII estimates are below the Street for 2023 and 2024, noted the analsyts, who thinks on the credit side that provision pull-forwards will weigh on 2023 EPS, but will help earnings in 2024.
Published first on TheFly
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