UBS upgraded Huntington Bancshares to Buy from Neutral with a price target of $15, up from $14. The firm noted six reasons for the upgrade, including that Huntington Bancshares is a beneficiary of a Fed pause, and that its guidance is “fair” and accounts for 3-5 rate cuts, the analyst tells investors in a research note. The culmination of smart strategic moves Huntington has made over the past several years results in a revenue path that is less vulnerable to the vagaries of rate expectations vs. peers, the firm argues.
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