Evercore ISI downgraded First Horizon (FHN) to In Line from Outperform with a price target of $20, down from $26. Despite yesterday’s post-earnings selloff, the firm sees limited meaningful upside catalysts to the shares. The stock dropped 11% yesterday as management appeared to open the door to potential whole bank acquisitions, which countered investor sentiment that First Horizon is more likely a seller, the analyst tells investors in a research note. Evercore now views a potential sale of the bank as unlikely over the next 12 months. As such, the firm views the stock’s current valuation as fair.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FHN:
- First Horizon downgraded to In Line from Outperform at Evercore ISI
- First Horizon Corporation Reports Strong Q3 2025 Results
- First Horizon National’s Earnings Call Highlights Robust Growth
- First Horizon’s Strong Financial Performance and Strategic Positioning Justify Buy Rating
- First Horizon price target lowered to $25 from $28 at Jefferies