Hancock Whitney upgraded to Buy from Neutral at Citi

Citi analyst Benjamin Gerlinger upgraded Hancock Whitney to Buy from Neutral with a price target of $50, up from $48. The analyst says the market is “unfairly pricing in a dour credit outlook” across the regional bank space. Hancock’s outsized capital base and solid deposit pricing trends “check the boxes investors need to see before valuation multiples can start to normalize,” the analyst tells investors in a research note. The firm believes the bank’s “healthy” reserve levels and thorough explanation of credit trends will likely assuage most fears.