Huntington Bancshares price target lowered to $12 from $13 at RBC Capital

RBC Capital analyst Jon Arfstrom lowered the firm’s price target on Huntington Bancshares to $12 from $13 but keeps an Outperform rating on the shares. The company’s higher margins and net interest income drove “solid” Q3 results, and the firm is encouraged by the core deposit and margin trends for the quarter, even though the near-term investment in the franchise is driving expense growth above historical trend, the analyst tells investors in a research note.