Piper Sandler downgraded Regions Financial to Neutral from Overweight with a price target of $15, down from $17. The bank’s “sizeable” Q3 miss and some credit deterioration suggest that the shares “will be too rangebound for now for it to return to outperformance over the next year,” the analyst tells investors in a research note. The firm says Regions went from “defensive stalwart to ‘show me’ story in the blink of an eye” with the Q3 report.
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