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First National rating moved to Tender from Sector Perform at National Bank

National Bank moved the firm’s rating on First National Financial (FNLIF) to Tender from Sector Perform, and raised the firm’s price target on the company to C$48 from C$39, following First National’s announcement that it would be acquired by Birch Hill Equity Partners Management and private equity funds managed by Brookfield Asset Management (BAM) for C$48 per share in cash.

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