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Banks Set for Tough 2020 as Analysts Fear Rates, Elections
LAGOS (Capital Markets in Africa) – Banks may be set for a harder time in the next few years as they face slowing earnings-per-share growth and mounting concern about tax hikes and tighter regulation if Democrats win in 2020, analysts say. Citi’s Keith Horowitz sees reduced earnings forecasts as bank stock valuations are “flashing red.” He updated his estimates and price targets to incorporate four interest rate cuts through 2020, which left Citi below Street estimates for…
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