Compass Point Downgrades Huntington Bancshares (HBAN) to Neutral

April 18, 2013 7:43 AM EDT
Get Alerts HBAN Hot Sheet
Price: $13.12 +0.85%

Rating Summary:
    11 Buy, 23 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Compass Point downgraded Huntington Bancshares (NASDAQ: HBAN) from Buy to Neutral with a price target of $8.00. Analyst Jason Stewart thinks shares remain cheap but thinks the stock lacks a catalyst.

"On a relative value basis, we continue to believe that HBAN shares are an attractive investment in the bank sector. However, incremental uncertainty on the downward trajectory of NCOs, which brings into question reserve releases, and continued pressure on mortgage banking income balance our enthusiasm against the valuation of shares," said Stewart.

For an analyst ratings summary and ratings history on Huntington Bancshares (NASDAQ: HBAN) click here. For more ratings news on Huntington Bancshares click here.

Shares of Huntington Bancshares closed at $7.01 yesterday.

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