Regions Financial upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research analyst Bill Carcache upgraded Regions Financial (RF) to Outperform from Peer Perform with a $24 price target. The analyst coupled the upgrade with a downgrade of U.S. Bancorp (USB). He believes Regions is better positioned relative to peers to benefit from repricing tailwinds as it remixes into higher yielding assets funded with low-beta deposits, "while providing downside protection through its best-in-class hedging strategy."