First Horizon price target raised to $15.50 from $14 at Citi

Citi raised the firm’s price target on First Horizon to $15.50 from $14 and keeps a Buy rating on the shares after meeting with management. The analyst came away with a more positive stance on the company’s near-term margin upside opportunities, largely supported by AEA repricing, modest asset mix-shift, and nearly flat LQ deposit costs. The firm believes improved fee income and capital deployment provide a runway for “stronger-than-consensus” PPNR trends and solid earnings growth.