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Regions Financial downgraded to Hold from Buy at Jefferies
The Fly

Regions Financial downgraded to Hold from Buy at Jefferies

Jefferies analyst Ken Usdin downgraded Regions Financial (RF) to Hold from Buy with a price target of $21, down from $23. With bank stocks facing "another year of uncertainty," Usdin is shaking up his ratings, telling investors that he prefers Truist (TFC) among the super-regionals. On the revenue side for the group, his NII estimates are below the Street for 2023 and 2024, noted Usdin, who thinks on the credit side that provision pull-forwards will weigh on 2023 EPS, but will help earnings in 2024.

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