January 03, 2013 at 14:12 PM EST
UPDATE: BMO Capital Markets Downgrades Cathay General Bancorp to Market Perform on Valuation
BMO Capital Markets reduced its rating on Cathay General Bancorp (NASDAQ: CATY ) from Outperform to Market Perform while reiterating its $21 price target. BMO Capital Markets said, "Our downgrade is based mostly on valuation, given the stock's outperformance over the past year. We had been recommending CATY for
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