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Keefe, Bruyette & Woods initiates its coverage on Fox Chase Bancorp
FXCB with a Market Perform rating and a price target of $14.50.
Keefe, Bruyette & Woods says, "Despite the near 12% upside in the shares, we remain on the sidelines at this time because capital deployment figures to be a slow and steady process as the bank's primary markets of operation continue to recovery from the economic downturn. Therefore, we expect profitability levels to lag peers, warranting a Market Perform rating, in our view."
FXCB closed at $13.14 on Thursday.
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Posted In: Analyst ColorPrice TargetInitiationPre-Market OutlookAnalyst RatingsBruyette & WoodsKeefe
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