In a report released today, David Chiaverini from Jefferies maintained a Buy rating on First Horizon, with a price target of $25.00.
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David Chiaverini has given his Buy rating due to a combination of factors that highlight First Horizon’s strong financial performance and strategic positioning. The company reported robust third-quarter earnings, with core earnings per share exceeding both Jefferies’ and consensus estimates. This was largely driven by higher net interest income and fee income, which outpaced expectations, despite some increase in expenses.
Additionally, First Horizon’s stable credit quality and the potential for it to remain an acquisition target due to its lower valuation further support the Buy rating. The reaffirmation of the full-year 2025 guidance, with revenue and expenses expected to be at the higher end of the projected ranges, also contributes to a positive outlook. The company’s presence in the Southeast market and its rate-neutral pre-provision net revenue business model are seen as advantageous, warranting a premium valuation and justifying the Buy recommendation.
According to TipRanks, Chiaverini is an analyst with an average return of -2.9% and a 46.06% success rate. Chiaverini covers the Financial sector, focusing on stocks such as Bok Financial, Comerica, and Fifth Third Bancorp.
In another report released today, Robert W. Baird also maintained a Buy rating on the stock with a $25.00 price target.