UBS lowered the firm’s price target on Huntington Bancshares to $15 from $16 and keeps a Buy rating on the shares. Positive investor meetings last week gave way to negative revisions to its net interest income guidance at a conference this week, a surprise given Huntington had stood out among large regionals in terms of its growth, taking advantage of its strong relative capital positioning to outperform on both loan and deposit growth, the analyst tells investors in a research note. The firm believes that paying up for deposit growth is positive for medium-term EPS power, and that future cuts in consensus have been captured in the underperformance post announcement.
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