Jefferies Lifts Numbers on Huntington Bancshares (HBAN) After Q1

April 19, 2012 10:58 AM EDT Send to a Friend
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Price: $9.12 -0.11%

Rating Summary:
    8 Buy, 19 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 37 | Down: 17 | New: 30
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Jefferies lifted estimates and its price target on Huntington Bancshares (NASDAQ: HBAN) from $7.00 to $7.50 following Q1 results on Wednesday.

The firm comments, "Core revenues were solid and moderating expense growth was a welcomed sight. We raise our '12 and '13 estimates to $0.65 (from $0.60), which now bake-in modest benefits from recent acquisitions and a better legacy net interest income run-rate. HBAN trades at 10x estimates, which continues to compare favorably to the group at 12x. Price target to $7.50, reiterate Buy."

Q2 EPS goes from $0.15 to $0.16, FY12 goes from $0.60 to $0.65 and FY13 goes from $0.60 to $0.65.

For an analyst ratings summary and ratings history on Huntington Bancshares click here. For more ratings news on Huntington Bancshares click here.

Shares of Huntington Bancshares closed at $6.40 yesterday.


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