Goldman Sachs Upgrades Regions Financial (RF) to Conviction Buy, Strong 'Self-Help' Story
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Price: $9.02 -1.53%
Rating Summary:
16 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
16 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade RF Now!
Goldman Sachs upgraded Regions Financial (NYSE: RF) from Buy to Conviction Buy with a price target of $9.00 (from $8.00), calling it the "best self-help story; repositioning for greater returns."
The firm said the strong self-help story, continued credit recovery and improving fundamentals will drive upside in the stock. Branch repositioning, rationalizing its franchise and a continued US Southeast housing recovery acting as key catalysts, they also said.
While shares are up 71% YTD and outperforming the group by a wide market, as the best positioned bank they see continued upside as the company unlocks value for investors over the next 18-24 months via both organic options and improving core fundamentals.
While Regions Financial was added to the Conviction Buy List, Wells Fargo (NYSE: WFC) was removed.
For an analyst ratings summary and ratings history on Regions Financial click here. For more ratings news on Regions Financial click here.
Shares of Regions Financial closed at $7.37 yesterday, with a 52 week range of $2.82-$7.40.
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The firm said the strong self-help story, continued credit recovery and improving fundamentals will drive upside in the stock. Branch repositioning, rationalizing its franchise and a continued US Southeast housing recovery acting as key catalysts, they also said.
While shares are up 71% YTD and outperforming the group by a wide market, as the best positioned bank they see continued upside as the company unlocks value for investors over the next 18-24 months via both organic options and improving core fundamentals.
While Regions Financial was added to the Conviction Buy List, Wells Fargo (NYSE: WFC) was removed.
For an analyst ratings summary and ratings history on Regions Financial click here. For more ratings news on Regions Financial click here.
Shares of Regions Financial closed at $7.37 yesterday, with a 52 week range of $2.82-$7.40.
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Goldman Sachs Conviction Buy List, Goldman Sachs, Wells Fargo
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