Regions Financial price target raised to $28 from $27 at Morgan Stanley

Morgan Stanley analyst Betsy Graseck raised the firm’s price target on Regions Financial to $28 from $27 and keeps an Overweight rating on the shares. Graseck and fellow analyst Manan Gosalia said bank management comments last week show that their thesis for accelerating deposit costs is playing out, but even faster than they’d anticipated, leading them to take down EPS estimates by a median 2% for Q4.