Ebrahim Poonawala, an analyst from Bank of America Securities, reiterated the Buy rating on Huntington Bancshares. The associated price target was raised to $21.00.
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Ebrahim Poonawala has given his Buy rating due to a combination of factors that highlight Huntington Bancshares’ strong financial performance and growth potential. The company reported a core EPS of $0.40 for the third quarter of 2025, surpassing both Bank of America and consensus estimates, driven by robust fee and net interest income. Despite higher expenses and credit costs, the overall financial results were positive, prompting an upward revision of future earnings estimates.
Ebrahim Poonawala also notes that Huntington Bancshares’ growth potential is not fully reflected in its current stock valuation. The company’s strategic investments in the Midwest and expansion into the Southeast and Texas markets are expected to drive significant growth, with loan growth projected at 7.5% year-over-year for fiscal year 2026. Additionally, anticipated margin expansion and strong management led by CEO Steve Steinour position the company to achieve superior revenue growth and profitability, supporting the Buy rating with a price objective of $21.
Poonawala covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, Huntington Bancshares, and Truist Financial. According to TipRanks, Poonawala has an average return of 12.9% and a 67.52% success rate on recommended stocks.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $22.00 price target.