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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Published first on TheFly
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