FBR Capital Upgrades Regions Financial (RF) to Outperform on Trump Presidency
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FBR Capital upgraded Regions Financial (NYSE: RF) from Market Perform to Outperform with a price target of $15.00 (from $10.50) on Trump victory.
Analyst Paul Miller commented, "We believe President-elect Donald Trump's political agenda—which includes deregulation, lower taxes, increased spending, and a bias for higher interest rates—paves the road to the most favorable macroeconomic environment for financials since before the financial crisis. Pertaining to banks, stronger revenues, lower expenses, and a greater ability to deploy excess capital offer a clear road map to stronger ROEs for the banks, which has us more positive on valuations. While higher rates should be a positive for all banks, we highlight the following asset-sensitive banks as having the strongest benefit: BAC, CMA, IBKC, JPM, KEY, PACW, PFBC, RF, STBZ, and ZION"
Shares of Regions Financial closed at $12.45 yesterday.
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