Evercore ISI analyst John Pancari upgraded Huntington Bancshares to Outperform from In Line with a price target of $15, up from $10.50. The analyst expects the stock’s relative valuation to benefit from a “largely de-risked” expense outlook, generally lower credit risk profile, and solid capital. Additionally, Huntington trades a modest discount to peers despite this outlook, and this disparity should narrow in the coming quarters, paving the way for outperformance in the shares, the analyst tells investors in a research note.
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Read More on HBAN:
- Huntington Bancshares upgraded to Equal Weight from Underweight at Barclays
- Huntington completed credit risk transfer of $3B in prime auto loans
- Huntington capital actions a ‘modest positive,’ says Evercore ISI
- Huntington completed credit risk transfer of $3B in primate auto loans
- Huntington Bancshares price target raised to $13.50 from $12 at Stephens
